Rabat: The African Development Bank (AfDB) and Stanbic IBTC Nigeria, a member of the Standard Bank Group, have entered into a significant $125 million agreement aimed at bolstering financial resilience and widening access to capital for transformative projects across the continent.
According to Ghana News Agency, the partnership comes after the approval of a loan facility and emphasizes a mutual dedication to resource mobilization, fostering private sector growth, and creating opportunities that drive inclusive development in Africa. During the signing ceremony held alongside the Africa Investment Forum Market Days 2025 in Rabat, officials from both organizations praised the determination and resilience that enabled the agreement, even amidst complex negotiations.
"This collaboration is not just about numbers; it is about impact," stated Dr. Abdul Kamara, Director General of AfDB Nigeria. "The capital injection will enable Stanbic IBTC to expand its lending capacity, support larger and more impactful projects, and maintain regulatory compliance and financial resilience," he added.
Mr. Wole Adeniyi, Chief Executive Officer of Stanbic IBTC Nigeria, expressed appreciation to AfDB for its confidence in the bank and Nigeria's economic future. He pointed out that the partnership would enhance the bank's ability to finance trade, infrastructure, and small and medium-sized enterprises, while also promoting sustainability. "By reinforcing our capital base, we are ensuring resilience and expanding access to finance for businesses that create jobs and opportunities across the country," he said.
He further mentioned that Stanbic Bank IBTC had recently been acknowledged as a leader in sustainability rankings, underscoring its commitment to responsible development. Both parties have committed to deepening their collaboration to deliver transformative results for Africa, marking this agreement as the start of a long and productive partnership.