Two companies, KPMG Professional Services and DevPar Financial Consulting, have won a $1.3 million bid to re-tool the Bank of Agriculture (BoA).
The companies emerged winners of the capacity building and institutional strengthening project of African Development Bank (AFDB) after scoring 84.5 and 76.63 points respectively in accordance with the financial guidelines of the AFDB.
The Managing Director of the Bank, Kabir Adamu while speaking in an address at the opening of financial bid for the selection of consultant in Kaduna said, “The project which is aimed at building the capability of the bank is apt at this time in Nigeria with the renewed commitment by all stakeholders to agriculture as the main stay of the Nigerian economy.
“This project is one in which the Federal Government of Nigeria, through the Bank of Agriculture has received financing from the African Development Bank (AfDB) towards the cost of the BOA – Institutional Strengthening and Capacity Building Project.”
Represented by the Executive Director Retail Services, Emmanuel Ameh, the MD said the support will assist the bank to carry out necessary reforms and be empowered and to achieve the long term goal of creating an efficient and effective, institution capable of seizing the huge opportunities in the Agricultural financing space in the world.
He added, “The bank, when properly positioned has huge potentials and enormous roles to play in financing the ever growing Agricultural sector, generate employment, empower it clients in Agric- business, reduce poverty and earn foreign exchange for the nation.
“The bank has not been able to seize enormous opportunities due largely to inadequate capital, capacity deficiencies (institutional and human), inadequate IT infrastructure, poor work tools, poor ambiance, among others.”
He assured that the bank would seize huge business opportunities in Agriculture while making it a commercially profitable and sustainable institution saying, “We would also re-design a new Human Resource strategy in accordance with its new vision, build the capacity of the workforce in crucial business areas to foster a competitive Financial Institution dedicated to agribusinesses.”
Adamu said the financial bid was the outcome of the search for a reputable consulting firm for this assignment using the African Development Bank procurement guidelines in line with the between the Federal Government and the AfDB.
The consultant, Mrs. Mary Asanato-Adiwu, said only two firms met the requirement for the financial bidding out of the four companies which submitted documents for the bidding process.