FCMB, FMO Unveil N20m AgriTech Investment Readiness Programme for Nigerian Startups

First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have announced the launch of the FCMB–FMO AgriTech Investment Readiness Programme 2025.

According to the financial institutions, the 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, the banks said, is designed to enhance access to capital while fostering the scalability of innovative agritech businesses.

“It will feature a competitive grant prize pool of ₦20 million, awarded to ventures recognised as best positioned for investment. The programme will also include digital learning and fundability scoring through Zimara. This proprietary platform leverages alternative data and established readiness benchmarks to identify bankable ventures. Applications for the programme are now open and will remain accessible from August 8 to September 12, 2025. Following this period, the top twenty startups will participate in an intensive six-week investment readiness programme, culminating in a pitch presentation to a panel of esteemed funders in October 2025,” a statement jointly signed by the banks read.

Mr. Kudzai Gumunyu, Divisional Head of Agribusiness & Non-Oil Exports at First City Monument Bank, 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.”

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.”