Nigerian commodity trader AFEX proudly supports over 160,000 farmers in the last five years

NIGERIA – AFEX Commodities Exchange Limited (AFEX), a leading private commodities exchange company in Nigeria, has launched a 5-year impact report, reviewing its operations since it launched in 2014. Since its inception, the organization has set out to build a platform that addresses major development challenges in Africa’s food systems by investing in innovations, with the potential for sustainable social impact in rural households and the larger society. “When we started AFEX, we recognized the need to create a systemic and sustainable change in the commodities market by creating a…

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AFEX Nigeria: Transforming Grains Commodity Markets with Technology

Developing viable commodity markets in Africa is fraught with failures and disappointments. AFEX, a private commodity trading enterprise based in Nigeria has shown that there are many opportunities in the sector. Food Business Africa had a conversation with the firm’s CEO, Ayodeji Balogun on his company and the opportunities in the sector. Authorities across Africa have failed at attempts to establish and streamline the warehousing receipt systems that would lead to organized, working and transparent commodity exchange systems that eventually lead to food security and improved trade in the Continent.…

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