CEM Report, Lagos
Investments on Commodity Exchange in Nigeria hit a N1 Billion mark in May, AFEX Commodity Exchange announced this week while presenting their score card for the month of May.
According to the information made available to Continental Economy Magazine, AFEX Commodity Exchange said it found it a milestone achievement and termed it a special moment for the team with regard to the much it mean for the family of investors and its impact on Nigerian agriculture financing.
“In May we hit N1 Billion in investments on ComX. It was a special moment for the team, and we remain excited about what this means for our growing family of investors, but also for the impact that increasing sources of financing for Nigerian agriculture”; AFEX wrote.
The organization equally itemized other activities and achievements for the month to include commencement of input disbursement to smallholder farmers across major production hubs in Nigeria, the launch of the Paddy Rice Aggregation Note on ComX, sharing a couple of insights on various webinars covering Insurance and Risk Management, the Agric Sector Response to Covid-19 and AfCFTA and others
“In the month of May, we commenced input disbursement to smallholder farmers across major production hubs in Nigeria, where AFEX has established operations. Our input disbursement activities are a key part of the input financing programme at AFEX. We have run the input financing programme annually since 2015 creating a collaborative programme where different bands of partners can leverage on our infrastructure to finance farmers by giving them access to inputs that lead to higher yields and productivity.
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“We began disbursing inputs at the AFEX warehouse in Saminaka, Kaduna State, and have since covered other communities and states in our drive to ensure that farmers have quality inputs to go to the farm and produce for the nation.
“A unique aspect of the activities this year is ensuring that our Xperts and the farmers who come to book their input loans are mindful of, and are therefore taking all safety precautions that have been prescribed in the face of Covid-19”. AFEX noted
The company further noted; “outside the input activities that were a big part of our month, we covered some other ground in May:
“We launched the Paddy Rice Aggregation Note on ComX, which was fully subscribed over the course of the month
‘We shared a couple of insights on various webinars covering Insurance and Risk Management, the Agric Sector Response to Covid-19 and AfCFTA
“We hosted one virtual community meeting for the month, covering the subject of Winning as a Community on ComX
“We brought together a young and knowledgeable panel to discuss how to continue collecting and leveraging data for the development of the agricultural sector.
One of the planned activities for the month of June, is the launching of a new topical webinar series aimed at helping the Exchange growing pool of retail clients and audiences to succeed, with topics that will greatly impact a wide swathe of growth-minded individuals looking to survive the present and plan for the future.
“In June, the Exchange will be launching a new topical webinar series with a goal of helping our growing pool of retail clients and audiences to succeed. We will be exploring topics that greatly impact a wide swathe of growth-minded individuals looking to survive the present and plan for the future.