FCMB, Mastercard launch digital platform to boost farmers’ access to finance

First City Monument Bank (FCMB) and Mastercard have launched a digital platform, AgroPass, to expand smallholder farmers’ access to financing, agricultural inputs and markets across Nigeria.

The platform, developed by Mastercard, connects farmers with lenders, input suppliers, buyers, agribusinesses and other participants in the agricultural value chain to improve productivity, strengthen financial inclusion and promote sustainable agricultural development.

The initiative combines Mastercard’s digital technology with FCMB’s banking network and presence in farming communities nationwide.

Speaking at the launch in Lagos, FCMB’s Managing Director, Yemisi Edun, represented by Obaro Odeghe, Executive Director, Wholesale Banking, said supporting farmers required more than providing credit, stressing the need to connect them with markets, technology, knowledge and other essential services.

She said AgroPass would help farmers become more productive, resilient and commercially successful by addressing gaps across the agricultural value chain.

Edun disclosed that FCMB provided more than N364.6 billion ($236 million) in financing to Nigeria’s agricultural sector in 2025, supporting over 196,000 smallholder farmers nationwide.

Nearly half of the beneficiaries, she said, were women and young people.

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Agriculture contributes more than 20 per cent of Nigeria’s Gross Domestic Product (GDP) and supports a significant proportion of the country’s workforce. However, smallholder farmers continue to face challenges accessing affordable financing, quality inputs, reliable markets and technical support.

To address these constraints, FCMB has adopted a value-chain financing model covering input suppliers, seed companies, farmers, processors, distributors and exporters.

Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness and Non-Oil Exports, said the bank’s initiatives were helping to improve agricultural productivity, increase exports and create economic opportunities in rural communities.

Mastercard’s Executive Vice President, Growth Segments, Tara Nathan, said many smallholder farmers remained disconnected from services and opportunities needed to grow their businesses.

She said AgroPass would bridge these gaps by linking farmers with financial services, suppliers, buyers and digital tools to improve productivity and resilience.

According to Nathan, the partnership with FCMB would help create a more connected agricultural ecosystem, enabling farmers to strengthen their businesses and participate more fully in the economy.

The platform is expected to improve the transparency and efficiency of agricultural transactions, strengthen farmers’ access to services and facilitate entry into new markets.

The launch forms part of both organisations’ efforts to advance financial inclusion, strengthen food security and support sustainable rural development through technology and partnerships.