First City Monument Bank (FCMB) and Mastercard have expanded entry to finance, markets and agricultural providers for smallholder farmers throughout Nigeria with the launch of AgroPass, a digital platform.
The platform, developed by Mastercard, connects farmers with enter suppliers, consumers, lenders, agribusinesses, and different members within the agricultural worth chain, aiming to strengthen monetary inclusion and enhance productiveness in one in all Nigeria’s most necessary financial sectors.
Speaking on the launch, Yemisi Edun, Managing Director, FCMB, represented by Obaro Odeghe, Executive Director, Wholesale Banking, stated supporting farmers means greater than providing credit score, including it’s about constructing connections to finance, markets, know-how, information and alternative.
She described AgroPass as a platform that empowers farmers to turn into extra productive, resilient and commercially profitable.
“By bridging critical gaps across the value chain, we can help build a more sustainable future for agriculture,” she stated.
She stated agriculture stays a vital pillar of Nigeria’s economic system, contributing greater than 20% of GDP and supporting a big share of employment throughout the nation. “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,” she stated.
Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness and Non-Oil Exports stated the financial institution’s efforts are focused towards boosting agricultural productiveness, rising exports and creating lasting financial alternatives in rural communities.
“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,” he stated.
Tara Nathan, Executive Vice President, Growth Segments, Mastercard, stated smallholder farmers are on the coronary heart of meals techniques, rural livelihoods and financial development throughout Africa, but many stay disconnected from the providers and alternatives that may assist 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,” she stated
She stated the platform is predicted to enhance the effectivity and transparency of agricultural transactions whereas serving to farmers handle their companies and entry 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,” she stated.
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