The African Development Bank (AfDB) and Stanbic IBTC Nigeria, part of the Standard Bank Group, have signed a landmark $125 million strategic agreement to bolster Africa’s development financing and enhance financial resilience across the continent.
The partnership, underpinned by an approved loan facility, is designed to expand access to capital for transformative projects, mobilize resources, and support private sector growth while fostering inclusive development.
Speaking at the signing ceremony during the Africa Investment Forum Market Days 2025 in Rabat, officials from both institutions highlighted the commitment and perseverance that led to the successful conclusion of complex negotiations.
“This collaboration is not just about numbers; it is about impact,” said Dr. Abdul Kamara, Director General of AfDB Nigeria.
“The capital injection will allow Stanbic IBTC to increase lending capacity, fund larger projects, and maintain regulatory compliance while strengthening financial resilience.”
Mr. Wole Adeniyi, Chief Executive Officer of Stanbic IBTC Nigeria, expressed appreciation to AfDB for its trust in the bank and Nigeria’s economic potential.
He emphasized that the partnership will enhance the bank’s ability to finance trade, infrastructure, and small and medium-sized enterprises (SMEs), while promoting sustainable development.
“By reinforcing our capital base, we are expanding access to finance for businesses that drive job creation and economic growth across Nigeria,” Mr. Adeniyi said.
He noted that Stanbic IBTC recently earned recognition for leadership in sustainability, reflecting its commitment to responsible development.
Both AfDB and Stanbic IBTC pledged to deepen their collaboration and deliver measurable, transformative results for Africa, describing the $125 million agreement as the foundation for a long-term, mutually beneficial partnership.
