First City Monument Bank (FCMB) has been honoured with the Nigeria Agribusiness Investment Award 2023 for its outstanding contribution to transforming agricultural finance and supporting the sustainable, long-term change needed to end chronic hunger and poverty in Nigeria. The award, presented by Feed the Future Nigeria, the U.S. Government’s Global Hunger & Food Security Initiative, celebrates innovative and impactful partnership with FCMB.
“We are immensely proud to receive this recognition,” said Mrs. Yemisi Edun, Managing Director of First City Monument Bank. “This award emphasises the importance of responsible investment in agriculture and reaffirms our commitment to transforming Nigeria’s agriculture value chain.”
Over the past five years, FCMB and Feed the Future Nigeria have joined forces to revolutionise agricultural finance and investment, enhancing the agribusiness landscape in Nigeria. Through this collaboration, they have successfully reduced agribusiness credit risks, paving the way for financial growth and stability within the sector.
“Our partnership with Feed the Future Nigeria demonstrates the potential of innovative financing models in agriculture,” stated Kudzai Gumunyu, Divisional Head of Agribusiness and Non-Oil Exports at FCMB. “We believe that responsible persuasion and creative solutions can lead to a brighter future for agribusiness in Nigeria.”
The partnership has focused on five key value chains – rice, maize, soybean, cowpea, and aquaculture – across seven strategic regions: Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger. Recognising that smallholder farmers and micro, small, and medium enterprises (MSMEs) are the backbone of the agribusiness ecosystem, the partnership has prioritised capacity-building, equipping these vital stakeholders with the tools and knowledge they need to access the financing and financial services they deserve.
