FCMB, FMO seek agric solutions in Nigeria with agritech hackathon

FCMB and the Dutch Entrepreneurial Development Bank (FMO) are launching an Agritech Hackathon and venture-building program to boost innovation in Nigeria’s agriculture sector. The initiative, run by Heave Ventures, invites startups to tackle challenges like credit access and food security, offering up to ₦23 million in prizes.
Applications are open from August 5 to September 5. FCMB’s Kudzai Gumunyu emphasized turning agribusiness challenges into opportunities, while FMO’s Martine Sanders highlighted the program’s role in sustainable development.
This hackathon is part of a broader partnership, including a $25 million NASIRA guarantee to support agricultural SMEs in Nigeria.
Source: Vanguard

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The FCMB and Dutch Entrepreneurial Development Bank (FMO) have launched an Agritech Hackathon and venture-building program to stimulate innovation in Nigeria’s agriculture sector. Run by Heave Ventures, the initiative invites startups to address challenges such as credit access and food security, with up to ₦23 million in prizes. Applications are open from August 5 to September 5.
Kudzai Gumunyu from FCMB emphasized the potential to transform agribusiness challenges into opportunities, while Martine Sanders from FMO highlighted the program’s contribution to sustainable development. This hackathon is part of a larger partnership that includes a $25 million NASIRA guarantee to support agricultural SMEs in Nigeria.
This initiative impacts the agri-food value chain by encouraging technological advancements and providing financial support to agricultural startups. The hackathon promotes innovation, enhances productivity, and addresses critical issues like credit access and food security. These efforts can lead to sustainable growth, better resource management, and increased competitiveness in the agriculture sector.