RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home

Africa Exchange Holdings (AFEX) raises $50 million to Finance Agri-SMEs in Nigeria

The $50 million Agri-SMEs fund is expected to bridge the funding gap between lenders and borrowers in the agricultural sector.

Rate Captain by Rate Captain
February 19, 2021
in Commodities, Wealth
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AFEX Commodities Exchange Limited (AFEX), a private commodities exchange company, has announced the first Warehouse Receipt Backed Commercial Paper in Africa. The paper has tech-enabled operations and a 24-hour fast cash turnaround for borrowers.

The $50 million Agri-SMEs fund is expected to bridge the funding gap between lenders and borrowers in the Nigerian agricultural sector with a commodity-backed instrument – for the first time.

AlsoRead

Dangote Drops in Billionaire Ranking as Net Worth Declines Amid Opening Mega Refinery.

FBNH Plc reports Gross Earnings of N805.128 billion in 2022.

Nigeria Customs Service Modernisation Project Aims to Generate $200bn in Revenue

Ayodeji Balogun, CEO, AFEX, stated, “The AFEX financing deal will help eradicate the high cost of procurement incurred by processors by deploying a discounted value of a warehouse receipt distributed among five leading players in the Food and Beverage, Trading Poultry and Animal Feed segments in Nigeria.

“The receiving companies are top 10 players in their respective segments. They have now been enabled access to a tool for managing price volatility, enabling up to 30% direct savings on prices.

“With our vision to reach a cumulative total of over $5 Billion in investment to the agriculture sector over the next five years, this financing deal is right on track to achieve this goal.’’

He added that as AFEX move towards building a derivatives market in Africa, “we want to be able to reduce exposure to price risk for stakeholders, by enabling them to hedge their positions and trade in commodity derivatives.”

Previous Post

Gold prices suffer worst week in four months

Next Post

FG, states, LGs share N640.3bn for January

Related News

Dangote Drops in Billionaire Ranking as Net Worth Declines Amid Opening Mega Refinery.

Dangote Drops in Billionaire Ranking as Net Worth Declines Amid Opening Mega Refinery.

by Rate Captain
June 2, 2023
0

Nigeria's renowned business tycoon, Aliko Dangote, experienced a significant setback in his billionaire ranking as his net worth took a...

FBNH Plc reports Gross Earnings of N805.128 billion in 2022.

FBNH Plc reports Gross Earnings of N805.128 billion in 2022.

by Rate Captain
June 2, 2023
0

FBN Holdings Plc, a leading financial institution, has announced the release of its audited financial statements for the year ending...

Nigeria Customs Service Modernisation Project Aims to Generate $200bn in Revenue

Nigeria Customs Service Modernisation Project Aims to Generate $200bn in Revenue

by Rate Captain
June 2, 2023
0

The Federal Government of Nigeria has set a target to generate $200 billion in revenue from the modernization project of...

Elon Musk Surpasses Bernard Arnault to Become World’s Richest Businessman.

Elon Musk Surpasses Bernard Arnault to Become World’s Richest Businessman.

by Rate Captain
June 1, 2023
0

Elon Musk, the CEO of Tesla, has overtaken Bernard Arnault, the French-born fashion icon and CEO of LVMH, to become...

Next Post

FG, states, LGs share N640.3bn for January

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

June 2, 2023
Ride-hailing Drivers in Nigeria Demand a Price Increase of 200%.

Ride-hailing Drivers in Nigeria Demand a Price Increase of 200%.

June 2, 2023

Popular Story

  • Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

    Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

    0 shares
    Share 0 Tweet 0
  • Ride-hailing Drivers in Nigeria Demand a Price Increase of 200%.

    0 shares
    Share 0 Tweet 0
  • Telcos issue banks disconnection notice over USSD debt

    0 shares
    Share 0 Tweet 0
  • US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

    0 shares
    Share 0 Tweet 0
  • Telecom Operators Blame Communications Minister for Telecom Debt Crisis

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>