BY OLUSHOLA BELLO, Lagos
AFEX Nigeria has restated its commitment to creat- ing an efficient, inclusive, and vibrant commodity market that promotes a fair exchange for everyone involved in the value chain. In the last five years, AFEX has built a platform that ad- dresses 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.
The leading commodities market operator on May 4, 2021 released its first edi- tion of the AFEX Impact Report, celebrating the positive socio-economic outcomes that have improved the livelihoods of over 160,000 farmers while cumulatively facilitating over 200,000MT of trades.
According to AFEX, this impact continues to unlock wealth and prosperity in the commodities market.
“By focusing on turning farming operations into profitable livelihoods, AFEX has built Nigeria’s largest supply chain infrastruc- ture, giving producers access to credit, inputs, and markets, which are required to generate sustainable income across the value chain.
” The Exchange noted that “achieving a stronger economy should include a push for food security, food selfsufficiency, and reduced poverty while promoting decent work and inclusion, all of which remain a key focus for AFEX’s wide-reaching impact in rural communities.
“As a commodities exchange, AFEX also enables the capital market to be included in this impact framework, unlocking finance and credit from the financial markets to drive activities and outcomes in the physical market.”
The CEO of AFEX, Ayode- ji Balogun, said: “When we started AFEX, we recognised the need to create a system- ic and sustainable change in the commodities market by creating a fair and efficient market for trading commod- ities. “We looked at the signifi- cant issues that had an impact on our food systems, particularly related to the challenges of the smallhold- er farmers