First City Monument Bank expands agritech support for African farmers

First City Monument Bank (FCMB) is expanding its agritech strategy to improve financial access and productivity for smallholder farmers across Africa. According to its Agritech Alumni Impact Report, the bank plans to deploy AI-powered advisory services in major local languages, including Hausa, Yoruba, and Igbo, to bridge the gap between farmers and formal credit.

The bank’s initiative has evolved from a startup competition into a broader ecosystem designed to scale investment-ready businesses. FCMB is highlighting startups like AgroCist and Crop2Cash as examples of ventures capable of expanding from Nigeria into wider African markets. Crop2Cash, for instance, utilizes USSD-enabled technology to provide financial tools to unbanked farmers.

To mitigate risks and enhance food security, the program is increasingly focusing on data-driven solutions, including soil intelligence, weather data, and climate-resilient farming models such as regenerative agriculture. The strategy aims to transition from traditional lending toward a de-risked, data-driven agricultural future for the continent.