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FCMB and Mastercard launched AgroPass, a digital platform aimed at connecting Nigerian smallholder farmers with financing and other services.
FCMB and Mastercard have launched AgroPass, a digital platform designed to connect Nigerian smallholder farmers with financing, markets, suppliers, and agricultural services.
FCMB said the new AgroPass platform is meant to widen access to financing for farmers by bringing several services into one place.
The bank and Mastercard described AgroPass as a digital platform, meaning farmers can use it through digital channels instead of relying only on in person processes.
AgroPass is intended to connect smallholder farmers to financing, markets, suppliers, and agricultural services. In practice, this points to a system where a farmer can look for credit and also find buyers, input providers, and support services without jumping between multiple organisations.
FCMB said it financed more than ₦364.6 billion in agriculture and supported over 196,000 smallholder farmers in the previous year.
AgroPass reflects a push to package agricultural finance with market access and services, not just loans. For smallholder farmers, access to buyers and suppliers can be as important as access to credit.
For FCMB, the launch ties into its stated agriculture activity, including ₦364.6 billion financed and support for over 196,000 smallholder farmers in the previous year. Mastercard’s involvement suggests a focus on using digital rails to reach more farmers and organise how services are delivered.
If AgroPass is adopted, it could make it easier for farmers to find financing and related services through one platform, which may help reduce friction in how smallholder farmers access support.
Primary Source: thisdaylive.com
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