FCMB, FMO Launch ₦20 Million AgriTech Investment Programme for Nigerian Startups
First City Monument Bank (FCMB) in partnership with the Dutch Entrepreneurial Development Bank (FMO) has unveiled the FCMB–FMO AgriTech Investment Readiness Programme 2025, a ₦20 million initiative aimed at promoting innovation and sustainability in Nigeria’s agricultural sector. The programme seeks to identify, support, and finance the country’s most promising agritech startups and Small- to Medium-sized Enterprises (SMEs).
Developed in collaboration with Heave Ventures, the programme is designed to enhance access to capital while enabling the scalability of innovative agritech businesses. Participating ventures will have the chance to compete for a ₦20 million grant prize pool, with selections based on their readiness for investment. Additionally, startups will benefit from digital learning modules and fundability scoring via Zimara, a proprietary platform that uses alternative data and investment readiness benchmarks to identify bankable businesses.
Applications are now open and will run from August 8 to September 12. Following the application period, the top 20 startups will join an intensive six-week investment readiness programme. This will culminate in a pitch presentation to a panel of leading investors and funders scheduled for October, providing startups with exposure and potential funding opportunities.
Mr. Kudzai Gumunyu, Divisional Head of Agribusiness & Non-Oil Exports at FCMB, highlighted the programme’s broader impact, stating, “This initiative goes beyond traditional funding. It is a commitment to nurturing and empowering agritech startups to unlock the full potential of Nigeria’s agribusiness landscape. By connecting people, capital, and markets, we aim to drive inclusive and sustainable growth across the sector.”
Heave Ventures CEO Abiodun Lawal emphasized the significance of agritech investment, saying, “Scaling agribusiness innovation can transform entire value chains, from production and processing to export, while creating millions of jobs and boosting foreign exchange. Supporting agritech startups strengthens Africa’s economic independence, resilience, and food sovereignty. FCMB and FMO’s commitment ensures these ventures are well-prepared to make a lasting impact on Nigeria’s agricultural ecosystem.”
Source: The sun