FCMB Deepens Agritech With AI Advisory in Local Languages

First City Monument Bank (FCMB) has announced plans to deepen its agritech strategy by deploying artificial intelligence-powered advisory services in major Nigerian languages.

The initiative is aimed at improving access to agricultural information, strengthening farm productivity and helping smallholder farmers connect with formal financial services.

According to the bank’s Agritech Alumni Impact Report covering 2018 to 2026, FCMB will continue supporting innovative agricultural technology companies developing solutions across the value chain.

The planned platforms will provide farmers with real-time advice and support in local languages, including Hausa, Yoruba and Igbo.

By offering information in languages familiar to farmers, the initiative is expected to reduce communication barriers and make digital agricultural services more accessible to smallholders who may not be comfortable using English-language platforms.

The advisory tools are expected to support farmers with relevant information on production and farm management. They may also help them make better-informed decisions by connecting agricultural advice with data on weather conditions, soil quality and other factors affecting farm performance.

FCMB said the initiative was being developed against the backdrop of concerns over food security, agricultural productivity and the exclusion of many farmers from formal financial systems across Africa.

The bank noted that agriculture contributes about 24 per cent of Nigeria’s gross domestic product, while only six per cent of farmers in Africa currently have access to formal credit.

The gap has made it difficult for many smallholder farmers to obtain the capital needed to buy inputs, expand production, adopt technology or withstand periods of poor weather and market uncertainty.

FCMB said the limited access to credit continues to influence the development of broader and more inclusive lending models that use relevant agritech solutions.

These solutions include weather data, soil intelligence and platforms enabled by Unstructured Supplementary Service Data (USSD), allowing farmers to access services through mobile phones without necessarily requiring smartphones or internet connections.

The use of weather information could help farmers plan planting and harvesting activities more effectively, while soil intelligence may assist them in making better decisions about crop selection, fertiliser application and land management.

USSD-enabled platforms could widen access by allowing farmers in areas with limited internet connectivity to receive information, complete basic transactions and interact with financial service providers through mobile networks.

The bank’s agritech programme has also evolved beyond its original focus as a startup competition. FCMB said it has become a broader ecosystem connecting innovators, investors and development partners.

The expanded approach is intended to support the growth and scale-up of AgTech companies developing products for farmers, financial institutions and other participants in the agricultural value chain.

These companies can help address challenges related to production, market access, finance, logistics, data collection and risk management. Their solutions may also give lenders better information for assessing agricultural borrowers and reducing the risks associated with farm lending.

FCMB said its strategy reflected a shift away from traditional lending towards what it described as “a de-risked, data-driven, and sovereign future for food and agriculture in Africa.”

A data-driven lending system could help financial institutions better understand farmers’ activities and repayment capacity. It could also support the design of financial products tailored to planting cycles, crop seasons and the differing needs of smallholder farmers.

However, the success of AI-powered advisory services will depend on the accuracy and relevance of the information provided, the availability of reliable agricultural data and the ability of farmers to use the platforms effectively.

Continuous engagement with farmers, extension workers, technology companies and research institutions will therefore be important to ensure that the tools respond to real production challenges.

FCMB’s plan places local-language technology at the centre of its effort to build a more inclusive agricultural finance ecosystem. By combining AI, weather data, soil intelligence and accessible mobile platforms, the bank hopes to support farmers while helping agritech innovators develop solutions capable of transforming food production across Nigeria and Africa.