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Funds raised are used to provide pre-qualified Agro-processors with working capital to purchase commodities required for their production processes at an agreed price. Photo: Supplied/FoodForAfrika.com

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    Nestlé East and Southern Africa (ESAR) has created the Nestlé Needs Youth (NNY) Agri Competition where participants stand the chance of winning mentorship opportunities and a cash prize of US$30 000. Photo: Pixabay

    Young agripreneurs have a chance to win big with Nestlé

    Catherine Kamanu believes that "farming smart" is the way to go, and prioritises working with nature instead of against it. Photo: Supplied/Catherine Kamanu

    Kenyan farmer proudly soldiers on, gumboots and all

    Many are moving away from West Africa because they relied on the small-scale fishing industry to survive. Photo: Supplied/Pixabay

    Three factors driving West Africa’s migration crisis

    The full 100% of the Gorongosa-grown coffee's profits are ploughed back into the National Park and those who live in the surrounds. Photo: Gorgonosa Project/Supplied

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    Nile co-founder Louis de Kock said the start-up is delighted to have Naspers Foundry support its mission to make fresh produce more accessible to people across the African continent. Photo: Supplied/Ventureburn

    Naspers Foundry pumps R40 million into fresh produce start-up

    Previous studies have shown that rodents and shrews are two large mammalian orders with widespread distribution and are reservoirs of many viruses. Photo: Pixabay/Supplied

    Scientists find new DNA viruses in rodents in Kenyan agri hubs

    Annita Mutoni is a young poultry farmer in Rwanda, and is finding her stride within the industry. Photo: Supplied/FoodForAfrika.com

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    Five farming projects that enhance food security across Africa

    Raj Patel is an award-winning author, film-maker and academic. Photo: New Frame/ANDYMKOSI

    Wake-up call: Our food system is broken, U-turn needed

  • Changemakers
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    • Agribusiness
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    Technology uptake remains low in upper parts of Africa

    Technology uptake remains low in upper parts of Africa

    Let’s keep our food local, says farmer and agri trainer

    Within the next ten years, AFEX intends to grow beyond Kenya to Benin, Togo, Ghana, Côte d'Ivoire, Tanzania, Ethiopia, Uganda, and Zambia. Photo: Supplied/Pixabay

    Kenyan farmers take quantum leap with help from AFEX

    FAO counts on 55 implementing partners for community distributions across the country. Photo: ©FAO/Mayak Akuot

    FAO in a race against time to plant in South Sudan

    The course is a 6-week intense program given in three 2-week sessions at IITA in Nairobi, Kenya, hosted by B4A/ILRI hub and World Agroforestry, over the course of a year, with a maximum of 20 participants per course offering. Photo: Supplied/Pixabay

    Crop scientists invited to have a crack at gene editing

    Uganda has a high literacy rate of 76.53% and is one of the world's youngest populations, which bodes well for the AYuTe Africa Challenge's success. Photo: Supplied/Pixabay

    Young Ugandans vie for agritech challenge honours

    World Bank has launched an insurance for Kenyan farmers that starts coverage at KES 50 per month. Photo: Supplied/World Bank

    Kenyan farmers embrace new weather insurance product

    Mantombi Madona proudly follows in the footsteps of her father. Photo: Supplied/Food For Mzansi

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    Ghana's government is working together with AGRA on its SeedSAT initiative to improve the regulation of the country's informal seed sector. Photo: Supplied/Pixabay

    AGRA launches project to boost Ghana’s seed quality

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    Within the next ten years, AFEX intends to grow beyond Kenya to Benin, Togo, Ghana, Côte d'Ivoire, Tanzania, Ethiopia, Uganda, and Zambia. Photo: Supplied/Pixabay

    Kenyan farmers take quantum leap with help from AFEX

    African avocados are growing in European export volume, and is one of the fastest-growing markets beside Latin America. Photo: Supplied/Pixabay

    East African avocado exports growing despite challenges

    The course is a 6-week intense program given in three 2-week sessions at IITA in Nairobi, Kenya, hosted by B4A/ILRI hub and World Agroforestry, over the course of a year, with a maximum of 20 participants per course offering. Photo: Supplied/Pixabay

    Crop scientists invited to have a crack at gene editing

    Governments across East Africa are fighting against the impact of mold in food products. Photo: Supplied/Pixabay

    Uganda fights to eliminate harmful aflatoxins in food

    East Africa's 2022 cereal harvest is in danger as the price of fertiliser has double since the start of the Russia-Ukraine conflict. Photo: Supplied/Pixabay

    East Africa’s cereal harvest at risk as fertiliser prices soar

    Ghana's government is working together with AGRA on its SeedSAT initiative to improve the regulation of the country's informal seed sector. Photo: Supplied/Pixabay

    AGRA launches project to boost Ghana’s seed quality

    Rain, and lots of it, is needed in Somalia to relieve the famine. Photo: Supplied/FoodforAfrika.com

    Drought-stricken Somalia on the brink of catastrophe

    Zimbabwean government is using a new financial incentive to lock more grain producers and entice them to sell to the country's sole grain purchasing board. Photo: Pixabay/Supplied

    Zimbabwean government introduces maize incentive to entice farmers

    Tanzania has aims to be able to provide enough rice for itself and the rest of East Africa before moving on to the continent in 2030. Photo: Supplied/Pixabay

    Tanzania sets sights on being Africa’s top rice producer

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    A picture featuring George Chiwedzerero, who left Zimbabwe for South Africa and was not heard from for two decades.

    Missing migrants project helps families find peace

    The general impression of Zanzibar when approached from the mainland is of a long, low island with small ridges along its central north–south axis. Coconut palms and other vegetation cover the land surface. Photo: Supplied/FoodForAfrika.com

    Here’s how farming transformed Zanzibar’s coastline

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    Cassava is one of the continent's food staples. Here is a history on the root veg and its humble beginnings. Photo: Supplied/FoodForAfrika.com

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    Lebanese potato farmers find that less is more

    In January 2015, a three-day rain displaced nearly quarter of a million people, devastated 64,000 hectares of land, and killed several hundred people in Malawi. Photo: Ashley Cooper/Getty Images

    What African countries got out of COP26

  • Home
  • Agri News
    • All
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    Nestlé East and Southern Africa (ESAR) has created the Nestlé Needs Youth (NNY) Agri Competition where participants stand the chance of winning mentorship opportunities and a cash prize of US$30 000. Photo: Pixabay

    Young agripreneurs have a chance to win big with Nestlé

    Catherine Kamanu believes that "farming smart" is the way to go, and prioritises working with nature instead of against it. Photo: Supplied/Catherine Kamanu

    Kenyan farmer proudly soldiers on, gumboots and all

    Many are moving away from West Africa because they relied on the small-scale fishing industry to survive. Photo: Supplied/Pixabay

    Three factors driving West Africa’s migration crisis

    The full 100% of the Gorongosa-grown coffee's profits are ploughed back into the National Park and those who live in the surrounds. Photo: Gorgonosa Project/Supplied

    How coffee is bringing life back to Mozambican forests

    Nile co-founder Louis de Kock said the start-up is delighted to have Naspers Foundry support its mission to make fresh produce more accessible to people across the African continent. Photo: Supplied/Ventureburn

    Naspers Foundry pumps R40 million into fresh produce start-up

    Previous studies have shown that rodents and shrews are two large mammalian orders with widespread distribution and are reservoirs of many viruses. Photo: Pixabay/Supplied

    Scientists find new DNA viruses in rodents in Kenyan agri hubs

    Annita Mutoni is a young poultry farmer in Rwanda, and is finding her stride within the industry. Photo: Supplied/FoodForAfrika.com

    Rwandan poultry farmer sets her sights far beyond chicken coops

    AB InBev Africa has implemented five different agriculture projects in the countries where it makes beer. This includes project Imifino in South Africa where water, heat, and anaerobic sludge waste streams produced by the brewery is converted into agricultural inputs which sustain wetlands and spinach beds. Photo: Supplied/FoodForAfrika.com

    Five farming projects that enhance food security across Africa

    Raj Patel is an award-winning author, film-maker and academic. Photo: New Frame/ANDYMKOSI

    Wake-up call: Our food system is broken, U-turn needed

  • Changemakers
    • All
    • Agribusiness
    • Agripreneurs
    • Farmers
    • Innovation
    Technology uptake remains low in upper parts of Africa

    Technology uptake remains low in upper parts of Africa

    Let’s keep our food local, says farmer and agri trainer

    Within the next ten years, AFEX intends to grow beyond Kenya to Benin, Togo, Ghana, Côte d'Ivoire, Tanzania, Ethiopia, Uganda, and Zambia. Photo: Supplied/Pixabay

    Kenyan farmers take quantum leap with help from AFEX

    FAO counts on 55 implementing partners for community distributions across the country. Photo: ©FAO/Mayak Akuot

    FAO in a race against time to plant in South Sudan

    The course is a 6-week intense program given in three 2-week sessions at IITA in Nairobi, Kenya, hosted by B4A/ILRI hub and World Agroforestry, over the course of a year, with a maximum of 20 participants per course offering. Photo: Supplied/Pixabay

    Crop scientists invited to have a crack at gene editing

    Uganda has a high literacy rate of 76.53% and is one of the world's youngest populations, which bodes well for the AYuTe Africa Challenge's success. Photo: Supplied/Pixabay

    Young Ugandans vie for agritech challenge honours

    World Bank has launched an insurance for Kenyan farmers that starts coverage at KES 50 per month. Photo: Supplied/World Bank

    Kenyan farmers embrace new weather insurance product

    Mantombi Madona proudly follows in the footsteps of her father. Photo: Supplied/Food For Mzansi

    It’s all in your hands, says dynamo farmer and agri trainer

    Ghana's government is working together with AGRA on its SeedSAT initiative to improve the regulation of the country's informal seed sector. Photo: Supplied/Pixabay

    AGRA launches project to boost Ghana’s seed quality

  • Food Security
    • All
    • Crops
    • Food Trends
    • Logistics
    • Markets
    Within the next ten years, AFEX intends to grow beyond Kenya to Benin, Togo, Ghana, Côte d'Ivoire, Tanzania, Ethiopia, Uganda, and Zambia. Photo: Supplied/Pixabay

    Kenyan farmers take quantum leap with help from AFEX

    African avocados are growing in European export volume, and is one of the fastest-growing markets beside Latin America. Photo: Supplied/Pixabay

    East African avocado exports growing despite challenges

    The course is a 6-week intense program given in three 2-week sessions at IITA in Nairobi, Kenya, hosted by B4A/ILRI hub and World Agroforestry, over the course of a year, with a maximum of 20 participants per course offering. Photo: Supplied/Pixabay

    Crop scientists invited to have a crack at gene editing

    Governments across East Africa are fighting against the impact of mold in food products. Photo: Supplied/Pixabay

    Uganda fights to eliminate harmful aflatoxins in food

    East Africa's 2022 cereal harvest is in danger as the price of fertiliser has double since the start of the Russia-Ukraine conflict. Photo: Supplied/Pixabay

    East Africa’s cereal harvest at risk as fertiliser prices soar

    Ghana's government is working together with AGRA on its SeedSAT initiative to improve the regulation of the country's informal seed sector. Photo: Supplied/Pixabay

    AGRA launches project to boost Ghana’s seed quality

    Rain, and lots of it, is needed in Somalia to relieve the famine. Photo: Supplied/FoodforAfrika.com

    Drought-stricken Somalia on the brink of catastrophe

    Zimbabwean government is using a new financial incentive to lock more grain producers and entice them to sell to the country's sole grain purchasing board. Photo: Pixabay/Supplied

    Zimbabwean government introduces maize incentive to entice farmers

    Tanzania has aims to be able to provide enough rice for itself and the rest of East Africa before moving on to the continent in 2030. Photo: Supplied/Pixabay

    Tanzania sets sights on being Africa’s top rice producer

  • Lifestyle
    • All
    • Food Health
    • Trends
    A picture featuring George Chiwedzerero, who left Zimbabwe for South Africa and was not heard from for two decades.

    Missing migrants project helps families find peace

    The general impression of Zanzibar when approached from the mainland is of a long, low island with small ridges along its central north–south axis. Coconut palms and other vegetation cover the land surface. Photo: Supplied/FoodForAfrika.com

    Here’s how farming transformed Zanzibar’s coastline

    Saponins also work against bacteria and fungi. Some bacteria have an external membrane that protects their genetic material. Photo: Supplied/FoodForAfrika.com

    Southern Africa’s soapy plants can improve hand hygiene

    There are a number of flowering plants that we do not often recognise the holistic health benefits of, such as okra, kalanchoe and periwinkle flowers. Photo: Supplied/FoodForAfrika.com

    Healing with the help of Africa’s indigenous plants

    Cassava is one of the continent's food staples. Here is a history on the root veg and its humble beginnings. Photo: Supplied/FoodForAfrika.com

    Cassava, a staple crop that sustains a continent

    Herbal remedies are commonplace in Uganda; testing these scientifically is a good way to ensure they’re safe and effective. Photo: Supplied/FoodForAfrika.com

    Herbal skin treatments in Uganda get a scientific boost

    Researchers believe that Rwanda's soft drink tax can be better used to boost public health by targeting sugar content. Photo: Supplied/FoodForAfrika.com

    Sugar tax might curb rise in obesity, diabetes in Rwanda

    Lebanese farmers have shirked using chemicals during the goring process and are realising their produce is healthy regardless. Photo: Supplied/FoodForAfrika.com

    Lebanese potato farmers find that less is more

    In January 2015, a three-day rain displaced nearly quarter of a million people, devastated 64,000 hectares of land, and killed several hundred people in Malawi. Photo: Ashley Cooper/Getty Images

    What African countries got out of COP26

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Nigerian commodities player to raise funds for agri sector

by Lucinda Dordley
2 Feb 2022
in Agri News, Markets
Reading Time: 2 mins read
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Funds raised are used to provide pre-qualified Agro-processors with working capital to purchase commodities required for their production processes at an agreed price. Photo: Supplied/FoodForAfrika.com

Funds raised are used to provide pre-qualified agro-processors with working capital to purchase commodities required for their production processes at an agreed price. Photo: Supplied/FoodForAfrika.com

AFEX, Nigeria’s first private sector commodities exchange, has reopened its $240 million (₦100 billion) Asset-Backed Commercial Paper (ABCP) to help stabilize the country’s agriculture industry.

“AFEX has a strong track record in offering distinctively differentiated and innovative financial instruments to the marketplace, and this new Asset-Backed Commercial Paper will help bridge the gap between agro-processors and investors,” said Alex Balogun, CEO at AFEX, via a statement.

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“Access to low-risk funding and capital is critical to empowering Africa to feed herself. We believe in making capital that is a right fit, in terms of timeliness and structure, available for all players in the value chain.

“Based on our past performance, we are confident that we will attract even more financing from private investors and, subject to value for money, they will help us secure this $175m (₦73 billion) investment in Africa’s food security.”  

The new funding, the second installment of AFEX’s three-year Commercial Paper initiative, began in the fourth quarter of 2021 and raised $65 million (₦27 million). It aims to raise an additional $175 million (₦73 million) for processors that are unable to borrow in the commercial paper markets.

AFEX is increasing commodity trading efficiency and allowing the larger financial market to access the African commodities market.

Investing in agriculture

Agriculture continues to be one of the continent’s most important economic sectors, employing the majority of the people and accounting for 14% of GDP in Sub-Saharan Africa.

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Despite this, many African economies face food security challenges due to a supply-demand disparity.

The ABCP is a short-term loan product that normally pays a competitive 15% return on investment and has a maturity of up to 270 days.

While most securities are issued by banks or other financial institutions, the ABCP Notes are sponsored by AFEX Commodities Exchange, and the proceeds will be used by AFEX Investment Limited to provide pre-qualified agro-processors with working capital support to enable them to purchase commodities required for their production processes at a pre-determined price.

The commodities that serve as credit enhancement in the transaction back up AFEX’s security.

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AFEX lists the ABCP on ComX, its commodities trading platform, and subsequently solicits subscriptions from capital market operators for a specific period of time.

The funds raised will be utilised to give working capital to pre-qualified agro-processors so they can purchase commodities required for their production processes at a pre-determined price.

Tags: AFEXEast Africa
Lucinda Dordley

Lucinda Dordley

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0

Research has revealed that less than three in 10 farmers in the upper parts of Africa use technology. To engage...

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Let’s keep our food local, says farmer and agri trainer

24 Jun 2022
Within the next ten years, AFEX intends to grow beyond Kenya to Benin, Togo, Ghana, Côte d'Ivoire, Tanzania, Ethiopia, Uganda, and Zambia. Photo: Supplied/Pixabay

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FAO in a race against time to plant in South Sudan

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Technology uptake remains low in upper parts of Africa

Let’s keep our food local, says farmer and agri trainer

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East African avocado exports growing despite challenges

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