Sterling Bank secures $30M facility from Proparco and AFD to finance renewable energy projects and support agricultural SMEs in Nigeria.
Amount Raised
$30 Million
Round Type
Venture
NigeriaAgriculture and FarmingFinancial ServicesFinanceLendingBankingInvestors
Description
Sterling Bank has signed a $30 million financing facility agreement with Proparco and the French Development Agency (AFD) to accelerate Nigeria's energy transition. The facility allocates 80% of funding to renewable energy projects, particularly solar power solutions, while 20% supports agricultural SMEs. The partnership aims to expand access to decentralized renewable energy, reduce dependence on fossil fuels, and address financing gaps for households and businesses. The initiative aligns with Sterling Bank's HEART strategy and marks the beginning of a long-term partnership between the institutions.
Quick answer
Sterling Bank raised $30 Million in a funding round, dated November 1, 2026. Investors: French Development Agency and Proparco. Sterling Bank is based in Nigeria.
- How much did Sterling Bank raise?
- Sterling Bank raised $30 Million in a funding round on November 1, 2026.
- Who invested in Sterling Bank?
- French Development Agency and Proparco are named as investors in this round.
- What does Sterling Bank do?
- Renowned for its now famous HEART of Sterling strategy; which focuses on investments in Health, Education, Agriculture, Renewable Energy and Transportation; the Bank featured on the prestigious top 100 fastest growing..
- Where is Sterling Bank based and how big is it?
- Sterling Bank is based in Nigeria. Fundz records about 1,001 employees.
- Who are the decision-makers at Sterling Bank?
- Fundz holds 5 contacts at Sterling Bank, including the Evp/cio. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Agriculture and Farming and Financial Services around the same time
Companies in the same sectors as Sterling Bank that raised within 45 days of this round, from Fundz verified event records.
- Arka Fincap raised $85M on November 8, 2026.
- Toronto-Dominion Bank raised $1.3B (Debt Financing) on November 4, 2026.
- Bread Financial™ raised $5.8M (Series C) on November 3, 2026.
- Bloquo raised $3.7M (Seed) on November 3, 2026.
- Bank7 raised $72M on November 1, 2026.
- Akme Fintrade (India) Limited raised $5.3M (Debt Financing) on October 26, 2026.
Who to call at Sterling Bank, and when
A new round usually means Sterling Bank is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Sterling Bank raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Sterling Bank, from your own LinkedIn network
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Related People
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