Mr Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank Plc, on Thursday, said the Africa Summit Deal Room 2019 would help to actualise $1 trillion Africa agribusiness economy plan by 2030.
Odubiyi stated this in a statement made available to newsmen by Mr. Roland Oroh, Director, Nigeria Agribusiness Register, to commemorate the Agriculture Africa Summit Deal Room 2019 being organised by Sterling Bank on Friday, Sept. 6 in Abuja.
The continental summit is titled: “Agriculture – Your Piece of The Trillion-Dollar Economy.”
Odubiyi said the summit would address issues preventing the agricultural sector from attaining its potential.
“Agriculture project promoters will have the opportunity to network and engage with capital providers in a pre-arranged setting call a deal room.
“Deal rooms in this part of the world are a recent phenomenon aimed at moving from talk to action in birthing new businesses or expanding existing businesses through capital infusion and other technical support measures.
“At deal rooms, project finds money and money finds project – a match-making avenue that has helped in realising large scale projects becoming a reality within shortest possible time,” he said.
According to him, agribusiness deal rooms are beginning to be the way summit and conference organisers distinguish themselves from others in the market place.
“The Nigeria Agribusiness Register’s AgNet Events, the African Development Bank’s Africa Investment Forum and AGRA’s Annual Forum Deal Room 2019 are a few examples of agribusiness focussed deal room events.
“Many watchers have noted that the Nigerian economy needs to grow a steady 5-7% annual growth rate to offer positive dividends to the common man on the street,” he said.
Odubiyi noted that one of the issues limiting Nigeria’s agri-potential is access to patient capital for green field and for expansion projects.
The summit will bring together policy makers, development agencies, international financial institutions and value chain players on the continent.