500,000 Nigerian farmers impacted by AFEX in 10 years – UK

The United Kingdom Tuesday said with its support, AFEX has impacted thousands of farmers in Nigeria, Côte d’Ivoire, Uganda and Kenya, ensuring a sustainable and resilient food supply chain.

In a statement by Atinuke Akande-Alegbe, a spokesperson of the British High Commission in Abuja, the UK said the leading commodities player in Africa, AFEX, was reshaping the agriculture value chain in Africa, contributing to building sustainable food systems and creating lasting impact for farmers, agribusinesses, and communities.

“In Nigeria, AFEX has expanded its farmer network to over 500,000 and traded over 1 million metric tons of essential crops such as maize, rice, sorghum, and soybeans.

“This trading volume has made a significant contribution to improving food availability and stability in its operational areas.

“Furthermore, through its financing platform, AFEX has injected over $250 million into agricultural value chains, ensuring that farmers have access to the capital they need to scale their production,” according to the statement.

It added that since expanding into Kenya and Uganda in 2021 and 2022, AFEX had been bullish in the pursuit of its strategic Pan-African expansion goal to penetrate eight African countries in the next decade, promoting the efficient trade of commodities in Africa while supporting the AFCFTA’s objectives to boost regional trade integration on the continent.

Commenting on the anniversary, the UK’s Deputy High Commissioner in Lagos, Mr. Jonny Baxter, said: “The UK is proud to have provided early-stage funding to AFEX 10 years ago, and to see the company grow with such success, enhancing agricultural productivity and bolstering food security in Nigeria.

“The agricultural sector stands as a vital pillar to Nigeria’s economy, playing a significant role in job creation and investment potential.  We look forward to continuing to support Nigeria’s agriculture sector and the opportunities this provides for its economic growth.”