AFEX, KSIP Sign MoU To Revive Commodities Sector In Kano

AFEX, Nigeria’s commodities market player, has announced the signing of a Memorandum of Understanding (MoU) with the Kano State Investment and Properties Limited (KSIP).

According to the partners, the MoU signing, which was consummated, yesterday, at the AFEX Abuja office, is aimed at fostering cooperation and partnership for the development and growth of the commodity sector within Kano State. The partners also said that the MoU signing reflects AFEX and the KSIP’s commitment to driving growth for the commodities sector, and largely agriculture in Nigeria.

Speaking on the partnership, managing director of Kano State Investment and Properties Limited, Auwalu Muktari, said, “A core focus for us for KSIP has always been securing wealth for the people of Kano State. This partnership with AFEX sets precedence to revive the agriculture sector, leveraging adequate human and capital resources to enhance economic productivity and generate value for the state.”

Present at the MoU signing, group CEO AFEX, Ayodeji Balogun, expressed, “We are delighted at the opportunity to collaborate with the Kano State Investment and Properties Limited to increase efficiency and innovation across the commodity value chain in Nigeria.”

Our exchange model, which we will be deploying during this project, provides a centralised platform for farmers, aggregators, and processors, to engage in transparent and efficient trading and improve fair pricing across the value chain while providing a path to unlocking the significant capital required for such a project.”