Apply: Nigerian Bank Opens Application for N20m Grant, Lists Requirements, Target Beneficiaries
- FCMB, in partnership with an international organisation wants to empower Nigerian startups with grants
- The funds are to support early-stage agricultural technology startups and also provide training and investor connections
- The deadline for applications has been set, while the intensive training is expected to kick off in October
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have unveiled a N20 million ($13,000) AgriTech Investment Readiness Programme in partnership with Heave Venture.
The programme is targeting the country’s most promising agricultural technology startups and small- to medium-sized enterprises (SMEs).
Source: Getty Images
The initiatve is designed to strengthen the capacity of agritech businesses to access funding and scale their operations.
It will combine six weeks of intensive training with digital learning tools, including Zimara, a platform that uses alternative data and readiness benchmarks to identify investment-worthy ventures.
How to apply for th programme
The organisers said application was opened from August 8 and it will run until September 12, 2025, Vanguard reports.
In a statement it noted that from the pool of applicants, 20 startups will be selected to participate in the programme.
It said:
"Their journey will culminate in October with a pitch day, where they will present their solutions to a panel of funders and compete for a N20 million grant prize pool."
Kudzai Gumunyu, Divisional Head of Agribusiness & Non-Oil Exports at FCMB said:
“This 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."
Also Abiodun Lawal, CEO of Heave Ventures, said scaling agribusiness innovation could revitalise value chains from production to export, create jobs, boost foreign exchange earnings, and enhance Africa’s position in global food markets.
“Agriculture is a powerful lever in the fight against poverty and unemployment and in achieving food sovereignty."
Source: Getty Images
Requirements to apply
- Agritech startups and SMEs solving key challenges in the agriculture value chain.
- Businesses with a viable model, traction, or consistent revenue.
- Founders seeking capital and market access.
Benefits
- N20 Million in Grants For the most investment-ready businesses.
- Investor & Bank Demo Day: You get to pitch directly to funders, DFIs, and strategic partners.
- Zimara Fundability Scorecard: Understand exactly how investors and banks view your business.
- Network and connect with off-takers, buyers, and accelerators.
- Experience practical coaching, capital planning, and growth strategies for 6 weeks
- Weekly sessions with VC mentors, bankers, and market experts
To apply use this link
Prices for beans, garri, rice, yam, onions, other food items drop
Earlier, Legit.ng reported that due to the harvest season, the price of food items has dropped.
This is according to a commodity price update released by Financial Derivatives Company Limited, which captured the latest price for beans, rice.
For example, the data shows that the price of a 50kg bag of yellow garri fell by 3.03% to N32,000 from N33,000 in July.
Source: Legit.ng
