AFRACA-NIRSAL Masterclass Opens in Lagos, Builds Financial Institutions’ Capacity

Finance sector professionals from across Africa have convened in Lagos for the AFRACA Masterclass on Inclusive Finance for Climate Resilience and Artificial Intelligence for Financial Services and Agricultural Finance. The program, organized by the African Rural and Agricultural Credit Association (AFRACA) in collaboration with NIRSAL Plc and other partners, marks the return of AFRACA’s capacity-development initiative to Nigeria for the first time since 2017.

Participants hail from Uganda, Ghana, Tanzania, the Democratic Republic of Congo, Kenya, and Nigeria, with representation from four Central Banks. Nigerian attendees include professionals from commercial banks, insurance companies, development finance institutions, microfinance banks, and the Central Bank of Nigeria. The week-long event focuses on leveraging AI and inclusive finance strategies to build climate resilience within the agricultural sector.

AFRACA Secretary-General, Ms. Ngo Bakang Anny Caroll, highlighted the critical role of Africa’s financial institutions in managing and allocating capital. She emphasized their responsibility in enhancing the continent's ability to achieve food security and boost its global economic standing, particularly in the face of climate change and stressed food systems. A delegation from NIRSAL Plc, led by Executive Director of Operations Mr. Ewaen Imohe, was present to deliver a welcome address.

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Against the backdrop of climate change and stressed food systems, she drew attention to the responsibility of Africa’s financial institutions as custodians and allocators of capital, emphasising the role they must play in strengthening the continent’s capacity to sustainably feed itself and improve its global competitiveness.