First City Monument Bank (FCMB) has joined forces with the Dutch Entrepreneurial Development Bank, FMO, to launch the FCMB–FMO AgriTech Investment Readiness Programme 2025, a new initiative aimed at boosting Nigeria’s agritech sector by supporting startups and small- to medium-sized enterprises (SMEs).
The programme, which was unveiled this week, is designed in collaboration with Heave Ventures. It seeks to bridge funding gaps, scale innovation, and create an enabling environment for agritech businesses to thrive. According to the organisers, the scheme will not only prepare startups for investment opportunities but also connect them with critical networks that can sustain long-term growth.
At the heart of the programme is a competitive N20 million grant prize pool, which will be awarded to startups judged to be the most investment-ready. Beyond the financial incentive, the initiative also provides participants with structured learning opportunities, mentorship, and digital evaluation tools.
One of the key features is the use of Zimara, a proprietary platform that applies alternative data and established readiness benchmarks to assess fundability. This digital tool will help both investors and startups identify strengths, weaknesses, and opportunities for growth.
Applications for the 2025 edition officially opened on August 8, 2025, and will close on September 12, 2025. From the pool of applicants, 20 top startups will be selected to undergo a rigorous six-week investment readiness programme, where they will benefit from workshops, expert mentorship, and business support sessions.
The programme will climax in October 2025 with a pitch event, where the selected startups will present their business ideas to a panel of local and international investors.
Speaking on the initiative, Mr Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness and Non-Oil Exports, said the bank views agritech as a critical driver of Nigeria’s economic transformation. He stressed that the programme is not limited to providing traditional funding but is aimed at equipping agritech ventures with the tools they need to grow and remain competitive.
“This programme reflects our mission to drive inclusive and sustainable growth through an African-rooted ecosystem that connects people, capital, and markets. It will help nurture and prepare these startups for investment opportunities, enhancing their potential to contribute to the agritech landscape in Nigeria,” Mr Gumunyu said.
Also commenting, Mr Abiodun Lawal, Chief Executive Officer of Heave Ventures, emphasised the wider impact that agritech innovation can have on Nigeria and Africa. He noted that supporting agritech startups could reshape agricultural value chains across production, processing, logistics, and exports.
“Scaling agribusiness innovation has the potential to revitalise entire value chains — from production to processing to export — creating millions of decent jobs, boosting foreign exchange earnings, and positioning Africa not merely as a consumer but as a vital global food and agricultural technology supplier,” Lawal said.
Industry analysts say the initiative comes at a crucial time for Nigeria’s agricultural sector, which continues to face challenges such as low productivity, post-harvest losses, and limited access to finance. By focusing on agritech solutions, the programme aims to encourage digital tools, smart farming practices, and innovations that will improve efficiency and sustainability.
The involvement of FMO, the Dutch Entrepreneurial Development Bank, is expected to strengthen investor confidence. The bank has a track record of supporting green and inclusive business models across Africa, Asia, and Latin America. Its partnership with FCMB is seen as a boost for Nigerian startups seeking global visibility.
FCMB, one of Nigeria’s leading financial institutions, has in recent years expanded its focus on agribusiness as part of its non-oil sector growth strategy. The bank has rolled out several initiatives to promote access to finance for farmers, exporters, and SMEs, while also working closely with development partners.
Stakeholders believe that the 2025 AgriTech Investment Readiness Programme could serve as a launchpad for Nigeria’s next generation of agricultural innovators, providing them with the funding and visibility required to attract both local and international investors.
