Kayode Tokede 

In a bid to foster innovation and sustainability in agriculture, First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have announced the launch of N20 million AgriTech Investment Readiness Programme for 2025. 

This initiative aspires to identify, support, and finance Nigeria’s most promising agritech startups and Small- to Medium-sized Enterprises (SMEs).

In collaboration with Heave Ventures, the programme is designed to enhance access to capital while fostering the scalability of innovative agritech businesses. It will feature a competitive grant prize pool of N20 million, awarded to ventures recognised as best positioned for investment. 

Commenting, Divisional Head of Agribusiness & Non-Oil Exports at First City Monument Bank, Mr. Kudzai Gumunyu in a statement said, “This programme is more than providing traditional funding; it is a commitment to nurturing and empowering agritech startups to contribute to the agribusiness landscape and unlock its full potential. It reflects our mission to drive inclusive and sustainable growth through an African-rooted ecosystem that connects people, capital and markets. This initiative will help nurture and prepare these startups for investment opportunities, enhancing their potential to contribute to the agritech landscape in Nigeria.”

On his part, the CEO of Heave Ventures, Abiodun Lawal, expressed his thoughts on the programme’s impact, stating, “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. Agriculture is a powerful lever in the fight against poverty and unemployment and in achieving food sovereignty. Investing in agribusiness is an investment in the continent’s economic independence, resilience against global challenges, and the dignity of its people. We are delighted by the commitment shown by FCMB and FMO in supporting agritech startups and assisting them in their developmental journey.”

The post FCMB,  Dutch Development Unveil N20m AgriTech Investment Readiness Programme  appeared first on THISDAYLIVE.