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Tag: AFEX

AFEX calls for streamlined trade during AGRF 2023, hints at Cote d’Ivoire expansion 

NIGERIA- AFEX, Nigeria’s leading commodities player, recently spotlighted the need for streamlined trade, harmonized standards, and improved infrastructure in African agriculture to foster food security across the continent.  AFEX reiterated its stance during a prominent session titled “The Real Cost of Food Security” at the African Food System Forum (AGRF) 2023.  This event, co-hosted by the Alliance for a Green…

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AFEX inks MoU with Ghana Commodities Exchange for collaborative commodities trading 

NIGERIA- AFEX, Nigeria’s leading commodities player, recently signed a Memorandum of Understanding with Ghana Commodities Exchange (GCX), to strengthen the commodity trading ecosystem between the two countries.  The MoU signing, which took place at AFEX’s office in Abuja on the 24th of August, had the Chief Executive Officer, GCX, Mrs. Tucci Ivowi, and the President/CEO, AFEX Nigeria, Akinyinka Akintunde, in…

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AFEX seeks to raise US$65M to drive expansion into 7 new African countries

NIGERIA – AFEX, Nigeria’s first private agricultural commodities exchange player has announced plans to raise US$65 million to fund its expansion plan into seven new African countries in a bid to capitalize on the growth in intra-African trade. According to Eficon Agency, the leading private agricultural commodity exchange is making a strategic move as it looks to take advantage of…

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Ayodeji Balogun steps up to become AFEX Group CEO, focuses on growing firm to billion dollar status

AFRICA- Ayodeji Balogun, the Group CEO of Africa’s leading commodities market player, AFEX, has taken up an enhanced role at the Group, as the company aims to cross the US$ 1 billion milestone.  Balogun, who has been working with AFEX since its inception in Nigeria in 2014, served as the Country Manager in Nigeria until 2019, and the CEO until…

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AFEX annual commodity outlook forecasts global maize prices to decline by 8% in 2023

NIGERIA – Global maize prices will decrease by 8% while prices for wheat, which were anticipated to rise by 36% in 2022, will slightly fall in 2023, according to the Annual Commodity Outlook by AFEX. The report further indicated that the fertiliser index which rose by 66% in 2022, is projected to decline by 12% in 2023 as supply disruptions…

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