FCMB, Dutch bank support agritech startups with N20m grants

First City Monument Bank and the Dutch Entrepreneurial Development Bank have announced the launch of the FCMB–FMO AgriTech Investment Readiness Programme 2025. This initiative aims to identify, support, and finance Nigeria’s most promising agritech startups and Small- to Medium-sized Enterprises.

In collaboration with Heave Ventures, the programme is designed to enhance access to capital while fostering the scalability of innovative agritech businesses, according to a statement from the partners.

The programme features a competitive grant prize pool of N20m, awarded to ventures recognised as best positioned for investment. It will also include digital learning and fundability scoring through Zimara, a proprietary platform that 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 the application period, the top 20 startups will participate in an intensive 6-week investment readiness programme, culminating in a pitch presentation to a panel of esteemed funders in October 2025.

Divisional Head of Agribusiness & Non-Oil Exports at FCMB, Mr Kudzai Gumunyu, emphasised that the 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.

“This programme reflects our mission to drive inclusive and sustainable growth through an African-rooted ecosystem that connects people, capital, and markets,” Gumunyu said. “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, highlighted the potential impact of the programme, 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.”