FCMB Enhances Agritech with AI Advisory in Local Languages

FCMB is advancing its agritech initiatives by introducing AI-powered advisory services in local languages, including Hausa, Yoruba, and Igbo, as outlined in the Bank’s Agritech Alumni Impact Report covering 2018 to 2026. This initiative aims to support the growth of AgTech companies that provide solutions across the agricultural value chain.

FCMB emphasizes the importance of addressing food security and agricultural productivity, noting that only six percent of farmers in Africa have access to formal credit despite agriculture contributing about 24 percent to Nigeria’s GDP. The bank is developing inclusive lending models that utilize AgTech solutions such as weather data and soil intelligence.

The agritech program has evolved from a startup competition into a broader ecosystem connecting innovators, investors, and development partners. Future plans include climate-resilient agricultural financing, bundled insurance, and animal healthcare solutions, as well as expanding Nigerian agritech startups into markets like Uganda, Ghana, Côte d’Ivoire, Ethiopia, and Kenya.