As the effort to address the country’s food security continues, the First City Monument Bank (FCMB) has partnered with the Dutch Entrepreneurial Development Bank, FMO to drive an agric tech hackathon, an event where participants attempt to solve critical issues in agriculture. The initiative seeks to proffer solutions to the challenges in the country’s agricultural sector through a venture-building programme, delivered by Heave Ventures.
In a statement from the partners on Thursday, the four-week venture-building programme would address the perennial pain points in Nigeria and Africa’s agribusiness ecosystems
The FCMB’s Divisional Head, Agribusiness & Non-Oil Exports, Mr Kudzai Gumunyu, said, “This initiative aims to address the perennial pain points in Nigeria and Africa’s agribusiness ecosystems, transforming them into monetised opportunities for innovators.
“We are indeed excited to partner with FMO and Heave Ventures to organise the Agritech Hackathon and Venture Building programme.
“It is an opportunity for innovators to conceptualise and develop solutions that will bridge some of the identified gaps in the agribusiness ecosystem to herald a new era of efficient agricultural practices for all stakeholders.
“We will continue to champion initiatives that foster inclusive and sustainable growth within communities by building a supportive ecosystem rooted in Africa, connecting people, capital, and markets.”
Subsequently, the Technical Assistance Manager at FMO, Martine Sanders, said the program will empower early-stage companies through business development services and funding. He said, “This initiative is vital for unlocking finance for MSMEs, promoting sustainable growth, and strengthening the ecosystem.
“This perfectly aligns with the objectives of NASIRA, the portfolio guarantee and technical assistance programme under which FMO and FCMB have partnered, which is funded by the European Commission”.
