Samtani Lists Challenges of Triton Aqua Farm

By Dipo Olowookere

Chief Executive Officer of Aqua Group, Mr Raju Samtani, has disclosed that his company is presently being faced with some operational challenges.

However, he has assured that the company would effectively manage the challenges such that they would not affect its operations or obstruct its progress.

Mr Samtani made this known at the weekend when management of Heritage Bank led by the Managing Director, Mr Ifie Sekibo, paid a visit to the firm.

Triton Group is a conglomerate with diversified business interests in the field of Nutrition. It consists of several companies in the business of farming, trading, processing & distributing seafood, meat and poultry products.

Heritage Bank, in partnership with the Central Bank of Nigeria (CBN), gave Triton a N2 billion long-term facility under the Commercial Agriculture Credit Scheme (CACS).

Speaking during the visit, Mr Samtani said his company was effectively using the facility well, but said the firm faces challenges like scarcity of brood stock because it usually does not have more than 20 percent of the quantity required to complete a hatchery process.

He also listed delay in construction of production points, as well as accessibility bridge the other challenges affecting his firm.

Speaking also during the visit, the Group Head of Agriculture Finance at Heritage Bank, Mr Olugbenga Awe, who was also part of the lender’s team, disclosed that partnership between the bank and Triton Farm local production will assist the nation in enhancing food security.

Mr Awe stressed that Heritage Bank’s support for small-scale enterprises is well known and most of these SMEs play in the agriculture sector.

According to him, the bank sees agriculture as one of its heritage that can empower individuals and communities in terms of creating wealth from the soil and through the entire value–chain using value addition and industrialization.