Both First City Monument Bank (FCMB) and Mastercard have introduced AgroPass, a digital platform designed to expand access to finance, markets and agricultural services for smallholder farmers across Nigeria.
The platform, developed by Mastercard, connects farmers with input suppliers, buyers, lenders, agribusinesses, and other participants in the agricultural value chain, aiming to strengthen financial inclusion and improve productivity in one of Nigeria’s most important economic sectors.
The launch combines Mastercard’s technology capabilities with FCMB’s network and presence in farming communities nationwide.
While speaking at the launch event in Lagos, Yemisi Edun, Managing Director, FCMB, represented by Obaro Odeghe, Executive Director, Wholesale Banking, said:
“Supporting farmers means more than offering credit. It means building connections to finance, markets, technology, knowledge, and opportunity. AgroPass empowers farmers to become more productive, resilient, and commercially successful. By bridging critical gaps across the value chain, we can help build a more sustainable future for agriculture.”
Edun said FCMB provided more than 364.6 billion naira ($236 million) in financing to Nigeria’s agricultural sector last year and supported more than 196,000 smallholder farmers nationwide. Nearly half of the beneficiaries were women and young people.
Agriculture remains a critical pillar of Nigeria’s economy, contributing more than 20% of GDP and supporting a significant share of employment across the country. Despite its importance, many smallholder farmers still face barriers to accessing financing, quality inputs, market opportunities, and technical support.
To address these gaps, FCMB has adopted a value-chain financing model that extends support across the agricultural ecosystem, including input suppliers, seed companies, farmers, processors, distributors and exporters.
“Our efforts are boosting agricultural productivity, increasing exports and creating lasting economic opportunities in rural communities,” said Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness and Non-Oil Exports.
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AgroPass builds on Mastercard’s broader efforts to strengthen participation across agricultural value chains through technology and collaborations. By creating trusted digital connections between farmers, service providers and buyers, the platform is designed to improve visibility, strengthen access to services and support greater financial inclusion.
Tara Nathan, Executive Vice President, Growth Segments, Mastercard, said:
“Smallholder farmers are at the heart of food systems, rural livelihoods and economic growth across Africa, yet many remain disconnected from the services and opportunities that can help them thrive. AgroPass bridges those gaps by connecting farmers to financial services, suppliers, buyers, and digital tools that support productivity and resilience. Through our collaboration with FCMB, we are helping create a more connected agricultural ecosystem where farmers can build stronger businesses, participate more fully in the economy and unlock new growth opportunities.”
The platform is expected to improve the efficiency and transparency of agricultural transactions while helping farmers manage their businesses and access new markets.
The launch is part of FCMB and Mastercard’s broader commitment to advancing financial inclusion, strengthening food security, and supporting sustainable rural development through technology, partnerships, and innovation.
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payment choices, making transactions secure, simple, smart and accessible. Our technology, innovation, partnerships, and networks combine to deliver a unique set of products and services that help people, businesses, and governments realise their greatest potential.
FCMB provides personal, business, and corporate banking services across Nigeria. Its financial solutions empower individuals and businesses to pursue their goals with confidence. In this way, FCMB brings “My Bank & I” to life while fostering inclusive and sustainable growth in the communities it serves.
