Heritage signs N232m agreement with Biase Plantations, PZ Wilmar

Heritage Bank Plc recently signed a N232 million pilot phase of Out-growers Agreement with Biase Plantations Limited (BPL) and its joint venture partner, PZ Wilmar Limited.
 
Ifie Sekibo
 MD/CEO, Heritage Bank
Speaking on the significance of the agreement signed at the bank’s headquarters in Lagos, Mr. Ifie Sekibo, MD/CEO of Heritage Bank, said the bank understands the need to support businesses in the agriculture sector in view of the sector’s importance to the sustainable development of Nigeria.

While assuring the company of the necessary financial and investment advisory support to Biase, Sekibo who was represented by Mr. Jude Monye, Executive Director, Business Banking and Mrs. Adaeze Udensi, Executive Director, Retail & SME Bank, said the initiative was taken to support the effort by the government towards diversifying the aggregate economy.

Mr. Ahmad Mustaffa Goh, General Manager of Biase Plantations Limited, said, “Today marks a milestone in the actualization of a long dream by Biase Plantations Limited. It has always been our priority to improve the socio-economic status of our landlord communities by developing an out-growers scheme that will build the resilience of local farmers to changing agricultural trend."

Goh said the out growers’ scheme is targeted at developing a sustainable small holder’s scheme which will eventually increase the product supply.

In Nigeria, Wilmar is involved in oil palm cultivation with a total land hectare of 26,500 located in Akamkpa, Biase, Odukpani and Akpabuyo local government areas of Cross River State.

Other Wilmar’s business activities globally include Oilseed crushing, edible oil refining, sugar milling and refining, specialty fat, oleochemical, bodiesel and fertilizer manufacturing and grain processing.





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