By Ayomide Otitoju
Nigerian agritech startups supported by First City Monument Bank (FCMB) are preparing to expand into other African markets as the bank seeks to scale homegrown agricultural technology solutions across the continent.
FCMB disclosed this in its AgriTech Alumni Impact Report, highlighting ventures such as AgroCist and Crop2Cash as examples of startups with potential to take their solutions beyond Nigeria.
The report reviews the development of the bank’s agritech programme since its launch in 2018 and its transition into what FCMB describes as an “Impact Era”, with a focus on commercially viable and investment-ready agricultural businesses.
Crop2Cash emerged as the programme’s inaugural winner with a USSD-based platform designed to improve access to financial services for unbanked farmers.
Since then, the initiative has expanded through partnerships with innovation hubs, development finance institutions and startup support organisations.
FCMB said its approach has increasingly moved beyond traditional lending to include the use of weather data, soil information and other digital technologies to improve decision-making, manage risks and boost agricultural productivity.
The bank also highlighted growing interest in climate-conscious agriculture, regenerative farming and ecosystem partnerships aimed at strengthening food security and improving rural livelihoods.
Development partners supporting the programme include FMO, the Mastercard Foundation and the United Nations Development Programme (UNDP).
FCMB said it would continue investing in user-focused agricultural innovations capable of scaling beyond Nigeria and contributing to the development of Africa’s agricultural sector.
