FCMB, Mastercard launch digital platform to expand farmers’ financing

Politics Spice Special Features Education Sex & Relationship Interview Columns Opinion Advertise with us FCMB, Mastercard launch digital platform to expand farmers’ financing Business & Economy October 30, 2026 12:15 am FCMB Group Plc. Photo: FCMB

First City Monument Bank (FCMB) and Mastercard have launched 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 across the country.

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 is about building connections to finance, markets, technology, knowledge and opportunity. AgroPass is a platform that 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 N364.6bn ($236m) 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 per cent 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 FCMB’s Divisional Head of Agribusiness and Non-Oil Exports, Kudzai Gumunyu.

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.

Executive Vice President, Growth Segments, Mastercard, Tara Nathan, 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 is designed to bridge 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 opportunities for growth.”

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 forms 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.

Jide, a seasoned journalist with over 12-year experience, reports business-related stories

Stay informed and ahead of the curve! Follow The Punch Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don’t miss a headline – join now!

Stay in the know—fast. Get instant alerts, breaking headlines, and exclusive stories with the Punch News App. Download now and never miss a beat.