Local farmers receive agric loan facility from KWASU Microfinance Bank
In furtherance of the community development mantra of Kwara State University, KWASU Microfinance Bank has made loan facilities available to farmer groups in and around Malete Community in Moro Local Government Area of Kwara State to support their farm operations in the approaching planting season.
KWASU Vice-Chancellor and Chairman Board of Trustees of KWASU Microfinance Bank, Professor Shaykh-Luqman Jimoh, presented letters of offer to the farmers associations in a formal event held on the bank’s premises on the KWASU campus in Malete, on Wednesday, March 26, 2025.
In his address to the farmers, Professor Jimoh who was represented by the Deputy Vice-Chancellor (Administration), Professor Moshood Mahmood Jimba, stated that the agric loan scheme was primarily to support farmers to boost food production and enhance food sustainability.
Professor Jimoh reiterated KWASU’s commitment to upholding its mantra of being a “University for Community Development” by leveraging its pool of experts and resources to initiate schemes that foster the development of local communities.
The Managing Director and Chief Executive Officer of KWASU Microfinance Bank, Alhaji Hassan Kolawole Hakeem, who in his opening speech stated that the agric loan scheme piloted last year with 15 farmers as beneficiaries added that it the pilot scheme yielded positive results for both the farmers and the bank as no beneficiary defaulted in the payback of the loan.
He noted that based on this success, the scheme has been expanded to accommodate more farmers under the umbrella of different farmers’ associations.
The associations benefiting from the agricultural loan scheme include Alanu Agbelere Farmers Group, Agbedola Ketere Group, Itesiwaju Agbe Group Omoni, Agbeloba Farmers Association (Malete Market), Agbeyewa Elemere Farmers’ Group, Agbe Olofeere Group, and Agbeloga Malete Farmers Group.
Speaking on behalf of the farmers groups, the Chairman of Agbeloba Farmers Association (Malete Market), Alhaji Mohammed Abdulrazaq thanked the university and the bank for the trust reposed in them.
He pledged, on behalf of the other beneficiaries, to utilize the loans efficiently and to ensure that the loans were repaid when due.