Miller Center for Global Impact

AFEX Commodities Exchange Limited

We strive to help Africa feed itself

Sector(s)
Agriculture; Financial Services; Information Technology and Communication; Supply Chain Services
Countries Impacted
Kenya, Nigeria
Cumulative Impact
735000
Climate Resilience
Climate-Smart Agriculture
Established
2013
Program Year(s)
2020
Operating Status
Operating
Headquarters
Yobe Investment House Plot 1332, Ralph Shodehinde Street Central Area, Abuja, Nigeria
zero hunger
no poverty
gender equality
decent work and economic growth
responsible consumption and production

Description

AFEX Commodities Exchange Limited (AFEX) enables the transition from production to transaction for agricultural commodities. Since its founding in 2014, AFEX has developed and deployed a viable commodities exchange model for the West African market; building a strong supply chain infrastructure to support the securitization of agricultural products.AFEX operates 100 warehouses in Nigeria’s key grain-producing areas and accounts for over 100,000 MT of total national storage capacity. Since 2014, the Exchange has reached over 300,000 farmers and traded over 600,000 MT of commodities with a total turnover of USD 378.6milliion (NGN151.1 billion)