The digital platform connects smallholder farmers to lenders, buyers, input suppliers and agricultural services, building on FCMB’s N364.6 billion investment in the sector.
First City Monument Bank (FCMB) and Mastercard have launched AgroPass, a digital platform designed to improve smallholder farmers’ access to finance, markets and essential agricultural services across Nigeria.
Developed by Mastercard, AgroPass connects farmers with lenders, input suppliers, buyers, agribusinesses and other participants in the agricultural value chain. The initiative aims to strengthen financial inclusion, improve productivity and help farmers build more commercially viable businesses.
The partnership combines Mastercard’s digital technology capabilities with FCMB’s banking network and presence in farming communities, with the goal of addressing persistent barriers confronting small-scale agricultural producers.
Speaking at the launch in Lagos, Yemisi Edun, FCMB Managing Director, said supporting farmers required more than simply providing loans. She noted that farmers also needed access to markets, technology, knowledge and business opportunities to improve their livelihoods.
“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.
She was represented at the event by Obaro Odeghe, FCMB’s Executive Director, Wholesale Banking.
Edun disclosed that FCMB provided more than N364.6 billion, equivalent to about $236 million, in financing to Nigeria’s agricultural sector in the previous year. The bank also supported more than 196,000 smallholder farmers nationwide, with women and young people accounting for nearly half of the beneficiaries.
The figures underscore the bank’s growing involvement in agricultural financing, particularly among producers who often struggle to secure credit and connect with formal markets.
Tara Nathan, Mastercard’s Executive Vice President, Growth Segments, said smallholder farmers remained central to Africa’s food systems, rural livelihoods and economic development but were frequently excluded from services and opportunities that could help them grow.
She said AgroPass was designed to close these gaps by connecting farmers to financial services, agricultural suppliers, buyers and digital tools that support productivity and resilience.
Through its collaboration with FCMB, Nathan added, Mastercard hopes to foster a more connected agricultural ecosystem in which farmers can strengthen their businesses, participate more fully in the economy and access new growth opportunities.
The platform is expected to improve the visibility and efficiency of agricultural transactions while helping farmers access services and reach new markets. By creating digital connections among farmers and other value-chain participants, AgroPass could also make it easier for financial institutions and agribusinesses to identify potential customers and understand their needs.
Agriculture contributes more than 20 per cent of Nigeria’s gross domestic product and supports a substantial share of the country’s workforce. Yet many smallholder farmers continue to face difficulties obtaining affordable financing, quality seeds and other inputs, reliable buyers and technical assistance.
These constraints can limit farm productivity, weaken incomes and discourage investment in improved farming practices. Limited access to formal financial services can also make it harder for farmers to expand production or withstand disruptions caused by weather, market volatility and rising input costs.
FCMB has adopted a value-chain financing model that extends beyond individual farmers to include seed companies, input suppliers, processors, distributors and exporters. The approach recognises that agricultural productivity depends on the strength of the wider network involved in producing, processing and moving food to consumers.
Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness and Non-Oil Exports, said the bank’s efforts were helping to boost agricultural productivity, increase exports and create economic opportunities in rural communities.
AgroPass builds on Mastercard’s broader use of technology and partnerships to improve participation across agricultural value chains. Its success, however, will depend on whether farmers can use the platform easily and whether the digital connections translate into affordable financing, dependable buyers and practical business benefits.
