Our partner, First City Monument Bank (FCMB) was last week featured in various dailies (ThisDay, BusinessDay, Daily Trust and National Mirror newspapers) and on the Channels TV’s News @ 10. FCMB is marking an increase in its agriculture lending portfolio to 6%, up from less than 2% three years ago.
In 2014, through Propcom Mai-karfi’s facilitation, FCMB disbursed N120 million in tractor loans to members of Tractor Owners and Hiring Facilities Association of Nigeria (TOHFAN). The loans are giving more rural smallholder farmers access to tractor services and stimulating/improving rural incomes. Like Propcom Mai-karfi, FCMB has additionally provided financial support to Doreo Partners; implementers of the Babban Gona franchise and intends to increase its lending to 8% in 2015.
To read more about FCMB’s support to agriculture, click on any of these links: