First City Monument Bank is positioning Nigerian agritech companies for expansion across Africa, with startups backed by its programme preparing to take locally developed agricultural technology into new markets.
Startups move toward regional expansion
FCMB’s AgriTech Alumni Impact Report identifies AgroCist and Crop2Cash as examples of ventures whose products could be adapted and deployed beyond Nigeria. The bank said their progress illustrates the wider opportunity to build agricultural technology businesses with continental reach.
- AgroCist is among the ventures highlighted for its potential to enter other African markets.
- Crop2Cash is also viewed as capable of extending its solution outside Nigeria.
- FCMB plans to keep backing agricultural innovations designed around users and capable of scaling internationally.
Programme shifts toward investment-ready businesses
The initiative began in 2018 and has developed into what FCMB calls an “Impact Era”, with greater emphasis on agricultural companies that can operate commercially and attract investment.
Crop2Cash was the programme’s first winner. Its USSD-enabled service was created to give farmers without bank accounts better access to financial services and tools.
Since that first award, FCMB has broadened the programme by working with innovation centres, development-finance organisations and companies that help startups grow. The bank said its support is also moving beyond conventional credit.
Data, climate and rural development priorities
FCMB is examining how weather records, soil data and other digital resources can help farmers and agribusinesses make more informed choices, reduce exposure to risk and raise farm output.
The bank also reported stronger interest in farming models that account for climate pressures, including regenerative agriculture and partnerships across the wider food and agricultural ecosystem. These efforts are intended to strengthen food supplies and improve livelihoods in rural communities.
Partners involved in supporting the programme include FMO, the Mastercard Foundation and the United Nations Development Programme. FCMB said its future investments will continue to focus on practical, user-oriented agricultural technology with the potential to grow from a Nigerian base into markets across Africa.
