FCMB Supports Agritech Startups' Expansion to East Africa

Nigerian agritech startups supported by First City Monument Bank (FCMB), such as AgroCist and Crop2Cash, are preparing to expand into East Africa as part of a strategy to scale agricultural technology solutions across the continent. FCMB's AgriTech Alumni Impact report outlines the development of its agritech program since its launch in 2018, transitioning into an “Impact Era” that emphasizes commercially viable and investment-ready agricultural businesses.

Crop2Cash, recognized as the inaugural winner of the program, offers a USSD-based platform aimed at improving financial access for unbanked farmers. The initiative has grown through partnerships with innovation hubs, development finance institutions, and startup enablers.

FCMB's approach now includes leveraging weather data, soil information, and digital tools to enhance decision-making, manage risks, and boost agricultural productivity. The report also notes a rising interest in climate-conscious agriculture and ecosystem partnerships to improve food security and rural livelihoods.

Development partners for the program include FMO, the Mastercard Foundation, and UNDP.