KWASU Microfinance Bank: Investing in Local Agriculture
University Microfinance Bank Empowers Farmers with Loan Facilities to Enhance Food Production
The Kwara State University (KWASU) Microfinance Bank has provided loan facilities to farmer groups in and around Malete, Moro Local Government Area.
Prof. Jimoh Shaykh-Luqman, vice Chancellor and Chairman of the Board of Trustees of KWASU Microfinance Bank, announced this while presenting offer letters to the farmers’ associations at a formal event on the university campus.
Addressing the farmers, the Vice-Chancellor, represented by the Deputy Vice-Chancellor (Administration), Prof. Moshood Jimba, said the agricultural loan scheme aimed to support farmers in boosting food production and enhancing food sustainability.
“The loan is meant to support your farm operations, especially in the upcoming planting season,” he said.
Prof. Shaykh-Luqman reaffirmed KWASU’s commitment to its mantra of being a “University for Community Development,” leveraging its expertise and resources to initiate programs that drive local development.
The Managing Director and Chief Executive Officer of KWASU Microfinance Bank, Alhaji Hakeem Hassan, noted that the agricultural loan scheme was piloted last year with 15 farmers as beneficiaries.
He added that the pilot scheme yielded positive results for both the farmers and the bank, as all beneficiaries successfully repaid their loans.
Following this success, he said, the scheme had been expanded to include more farmers under various farmers’ associations.
The News Agency of Nigeria (NAN) reports that the associations benefiting from the agricultural loan scheme include Alanu Agbelere Farmers Group, Agbedola Ketere Group, and Itesiwaju Agbe Group Omoni.
Others are Agbeloba Farmers Association (Malete Market), Agbeyewa Elemere Farmers Group, Agbe Olofeere Group, and Agbeloga Malete Farmers Group.
Speaking on behalf of the farmers, the Chairman of Agbeloba Farmers Association (Malete Market), Alhaji Mohammed Abdulrazaq, expressed gratitude to the university and the bank for their trust.
He pledged, on behalf of the beneficiaries, to utilize the loans effectively and ensure prompt repayment. (NAN)
