FCMB gets agribusiness investment award

 

FCMB gets agribusiness investment award

First City Monument Bank received the Nigeria Agribusiness Investment Award 2023 from the US government's Feed the Future Nigeria initiative, which fights global hunger and food security. The bank was recognized for its efforts to enhance agricultural finance and promote long-term, sustainable change that is necessary to eradicate chronic hunger and poverty in Nigeria.

The bank released a statement revealing this.

Speaking on the award, the Managing Director of FCMB, Yemisi Edun, said, “We are immensely proud to receive this recognition. This award emphasises the importance of responsible investment in agriculture and reaffirms our commitment to transforming Nigeria’s agriculture value chain.”

It was disclosed that Feed the Future Nigeria and FCMB had collaborated for the past five years to transform agricultural investment and financing, improving the state of Nigeria's agribusiness sector.

“Our partnership with Feed the Future Nigeria demonstrates the potential of innovative financing models in agriculture. We believe that responsible persuasion and creative solutions can lead to a brighter future for agribusiness in Nigeria,” Divisional Head of Agribusiness and Non-Oil Exports at FCMB, Kudzai Gumunyu said.

Throughout seven strategic regions—Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi, and Niger—the partnership has concentrated on five key value chains: rice, maize, soybean, cowpea, and aquaculture. It has also placed a high priority on building capacity and providing smallholder farmers and micro, small, and medium-sized businesses with the resources and information they require to obtain the financing and financial services they are entitled to.

More than 3,000 smallholder farmers benefited from increased access to capital as a result of the parties' cooperation.

The Nigeria Agribusiness Investment Award 2023 celebrates the synergy between USAID Feed the Future Nigeria and First City Monument Bank, showcasing the profound impact of responsible investment in agriculture.