AFEX
@AFEXNigeria
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AFEX's infrastructure and platforms drive capital to build a trust economy in Africa’s commodity markets.
Federal Capital Territory
Joined January 2014
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Pinned Tweet
This year, our event platform that brings together the technology, finance and agriculture sectors to ideate around game-changing solutions for the continent is entering its 5th year.
We are super excited to host alongside some awesome partners that will join us soon, but first,
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2K
...because of the lockdown, there is less supply of commodities in the market and prices are high. Farmer prices are getting higher than processor quotes making it difficult for me as a merchant to secure goods.
Link to full commodities price report here
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AFEX was live today at Agra Innovate 2019, which held at the Landmark Event Center with our Country Manager,
@ayodejiobalogun
, leading a seminar about "Stabilizing Market Food Prices via Efficient Transportation and Distribution Systems."
#AgraInnovate
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Join
@FinPlanKaluAja1
’s live session at 7 PM on Saturday, where we’ll be having an interesting chat on the importance of market-driven agriculture and what’s in store for
#CodeCashCrop
4.0 ag-hackathon.
Click here to set a reminder -
Don’t miss it!
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We recently got the results of an independent evaluation of our services to farmers. We’ve appreciated the results in-house and are working on some of the areas of improvement that were spotlighted in the report.
Short thread!
#ListenBetter
#AGRF2019
#SterlingASA2019
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For our second ever Twitter Space, we want to talk about the dynamics of recent wheat price movements and the larger domestic commodities market in Nigeria/ Africa in the face of the Russia-Ukraine conflict.
Join us.
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We’re also looking for an MIS Administrator. Someone who will be the ace up our sleeves for all things data and systems.
It’s an opportunity to work with some of the most passionate people in the world to create revolutionary products.
See below for who we need & how to apply.
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Great sights at
#AGRF2019
. Venue looks great both inside and out. Be sure to drop by our exhibition booth to explore our own digital solutions that are transforming agriculture in Nigeria.
#GrowDigital
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Minister of Agriculture Ghana.
The government of Ghana wants to increase its Agriculture Import earnings from $2 Billion to $12 Billion by exporting five more crops other than Cocoa.
#AGRF2019
#GrowDigital
#DealRoom
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Here at AFEX, we call our colleagues Xperts because they are the smartest, and the most dedicated bunch of people you will ever meet.
We had quite a few of them tell us their AFEX stories in these short videos that are now live on our YouTube page -
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Also seeking out a Community Manager for our commodities trading and investment platform.
It’s an opportunity to work with some of the most passionate people in the world to create and push truly revolutionary products.
See below for who we need and how to apply.
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Nigeria’s VP
@ProfOsinbajo
was at the Presidential Summit yesterday at
#AGRF2019
and had some contributions to make.
“The place of agriculture in our economy is central because as a matter of fact, it is clearly the largest employer of labor.”
Thread...
#GrowDigital
#DealRoom
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A momentous occasion today as AFEX meets with the investment community in Abuja to unveil a new, innovative way to invest in commodities.
#AFEXBrokerMeetUp
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Today, the AFEX 100,000MT/ year Grain Quality Enhancement Center and 30,000MT storage capacity warehouse was commissioned by His Excellency, the Governor of Kaduna State, Mallam Nasiru el-Rufai
@elrufai
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We’re looking for a Frontend Developer at AFEX. Someone who can own the design thinking move in our Trybe.
It’s an opportunity to work with some of the most passionate people in the world to create truly revolutionary products.
See below for who we need and how to apply.
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To sustain the interest of farmers in agriculture as a business, we need to make growth a part of their field of possibilities.
Our solutions include farmers in the benefit sharing formula through a bundle of services that also introduces visibility into Nigerian agriculture.
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"Prices opened in the south west at N650, 000/MT at farm gate at the beginning of October, and are currently at N720, 000/MT."
AFEX Cocoa Outlook for 2019/ 2020 Season
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Millennials argue that the Gen Z only want the soft life and spend everything trying to get it. But the Gen Zs claim that they invest as hard as they play.
As an organization that deals with all ages, we are interested in hearing both parties argue it out.
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Here at AFEX, we call our colleagues Xperts because they are the smartest, and the most dedicated bunch of people you will ever meet.
We had quite a few of them tell us their AFEX stories in these short videos that are now live on our YouTube page -
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The big questions about export potential
The big questions about value for producers
The big questions about foreign markets
Join us by 2pm on the 23rd of August (Friday) to discuss "Cocoa as the Future".
#CocoaVC
to join in on the conversations.
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Is Investing in Commodities only for the Brave?
Successful investing is about managing risk, not avoiding it. In the world of investing, every form of financial vehicle holds certain levels of advantages and disadvantages, and commodities are no different.
#COMX
Thread
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Improving transport and distribution systems for food will:
Increase access to markets and improve farm incomes
Expand profit margins for off-takers as procurement costs decline
Stabilize wholesale and retail prices as logistics become more efficient and losses reduce
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Our Country Manager
@ayodejiobalogun
is present at
#AGRF2019
and will be one of the panelists for (E-commerce Models to Scale Up) coming up on the 5th of September.
#GrowDigital
#DealRoom
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We're Nigeria's first private sector commodities exchange firm, providing solutions to the frequently discussed problems in our country's agriculture.
is the place to start your exploration.
It's been an amazing journey so far!
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We believe in tech for:
Promoting efficiency 👩🏾💻
Increasing transparency 🗣
Enhancing productivity 👨🏾🌾
...all things needed to transform agriculture in Nigeria, helping us reach for a future where we feed ourselves.
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You could eat a plate of cereal while on the ComX app trading maize contracts from your phone.
We're expanding possibilities with ComX
You can find it on android:
or on your iOS device:
Sign up at
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AFEX CEO Deji Balogun talks about making success available to anyone who is willing to work for it.
It’s been part of the ethos of our work for years, and with ComX we’re opening the field up so that anyone can trade and invest in commodities, anywhere.
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Still
#IWD2022
vibes over here as we check out videos and pictures from partying with our all-women cooperative on March 8th.
These women are:
- Best in farming
- Best in paying back loans
- Best in improving their earnings year-on-year
We love them.
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Tweet Chat goes live in an hour.
Here’s a final run down on the details you need to join us:
- Follow the thread of conversations on our handle
@afexnigeria
- Join in and react using the hashtag
#CocoaVC
- Visit the hashtag to see all the different threads the conversation
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The high price dynamics this season is being driven by an influx of commodity buyers, the closure of the border and higher participation by the local companies in the domestic market.
This would make it the highest since the 2016-2017 marketing year.
#comxreport
#afexnigeria
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Excited to have
@GbemiAlonge
and
@onu_kwue
alongside
@MikeDrop__
and
@Yusufogunbiyi
as we host this important conversation.
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On logistics:
"Logistics cost in Nigeria drives the prices of commodities higher, making up about 15% of cost of commodities
It costs 1.3x more to move maize over the same distance in Nigeria than it is in South Africa"
#AgraInnovate
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He compared some of the local data points (3500 km of guage rail and 500,000 tons of standard storage capacity) to what is attainable in the BICS countries exposing the huge inefficiencies in Nigeria’s logistics infrastructure especially when compared on a per capita basis.
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We are thrilled to announce a new partnership with the Katsina State Government!
This collaboration opens several opportunities. From the establishment of a sesame processing plant to boost exports to an expansion of our farmer out-grower program to provide training and support,
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And we have our winners! 🚀🚀🚀
It has been an incredible day filled with electrifying pitches but we can only take 3!
Here are our top 3 winners
🥇Temitope Yakubu - Farm CI
🥈Michael Munavu - MCHE
🥉Eliud Rugut - Silo Africa
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Happy birthday to our amazing GCEO, Ayodeji Balogun!
Your leadership and vision inspire us all to reach new heights.
We're grateful for your dedication and for creating such a positive work environment.
Today, we raise a toast to more amazing explorations, bountiful
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ComX IS LIVE!
Today, from us to you,
An app to simplify commodities trading and investment in Nigeria.
Trade commodity contracts with ease, and diversify your investment portfolio with an asset class that can never go completely bust.
#comx
#investingdifferently
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Yesterday, we celebrated a momentous milestone as British International Investment (BII)
@BritishIntInv
, the United Kingdom's development finance institution (DFI) and impact investor, pledged an impressive $26.5 million to AFEX.
This generous investment is set to drive
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Hype for this!
Let's talk about the commodities market and how it can put some green into your portfolio.
Register for the webinar here -
And get ready to download some necessary knowledge.
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It’s a shorter jump from an empowered farmer to an improved food system and digital solutions help to accelerate the process.
👩🏾💻👩🌾
👨🏾💻👨🏾🌾
#GrowDigital
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We just released the First Annual Commodity Review Report for 2019.
The report reviews the international and domestic landscape for key commodities such as soybeans, maize, paddy rice, cocoa, ginger and sorghum in the Nigerian market.
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The African Green Revolution Forum
#AGRF2019
begins today in Accra, Ghana. The team is excited to be represented at the event & we look forward to sharing the ideas we will get from this Forum with you throughout the week. Join in on the conversation
#GrowDigital
#DealRoom
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It's a shorter jump from an empowered farmer to an improved food system.
AFEX is helping to:
Increase farmer productivity
Improve farmer livelihoods
Include farmers in financial systems
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At the AFEX booth at
#AGRF2019
, you will meet Khadijah Shogbuyi our Business Development Analyst. She’s great at explaining our work at AFEX, and at AGRF she’s especially getting into our digital solutions and how YOU can take advantage of the doors they are opening
#GrowDigital
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What happens when tech, agric, and finance meet?
A question that became the origin story for Code Cash Crop - the biggest industry event for the intersection of all 3 sectors.
Join us once again, in our 4th edition to watch the ag-tech industry unfold
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Here at AFEX, we call our colleagues Xperts because they are the smartest, and the most dedicated bunch of people you will ever meet.
We had quite a few of them tell us their AFEX stories in these short videos that are now live on our YouTube page -
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“African smallholder farmers are no different from anyone else; they make rational economic decisions, trying to optimize revenue within the resources available. For us at AFEX, the question is what are the biggest problems for farmers and how can we create something that
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“We want this to be Africa’s decade, the decade to 2030. We want it to be the last decade we have to deal with food security issues.”
Inspiring words from
@Agnes_Kalibata
as she opens
@TheAGRF
#GrowDigital
#AGRF2019
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Sustainable agriculture allow us to meet our food needs both now and in the future.
It’s a key goal to reflect upon this
#WorldFoodDay
with the necessary theme - Our Actions are Our Future.
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We are thrilled to announce our newest win - a feature in the
@FT
as the third Africa's Fastest-Growing Companies in Agriculture & Commodities category.🥇
This is the FT's first-ever Africa annual ranking, so we're proud that we’re part of history.🚀
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Happy Birthday to our very own Wizkid, Ayodeji Balogun!
Beyond being an exceptional leader, you're a commodity trader, a voracious coffee lover, an adventurer, a visionary, a farmer, & a great mentor.
Join us in celebrating 4 decades with our GCEO with the hashtag
#Ayodejiat40
.
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"Ginger cultivation was good with sufficient rainfall and many of the farmers increasing their farm holdings due to favorable prices in the preceding season."
🤓Ginger Outlook for the 2019/ 2020 Season
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Whether na one naira
Whether na one million
@ComXbyAFEX
has got you.
Follow today for your best bet on alternative investments.
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Still more results of an independent evaluation of our services to farmers carried out by the 60 Decibels team.
64% of farmers reported an improvement in their quality of life after meeting AFEX.
Still cause for celebration and a reminder to
#ListenBetter
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We’re organizing a Tweet Chat with
@Nairametrics
looking at the cocoa value chain in Nigeria.
It’s coming up this Friday and will spotlight a lot of discussions on why cocoa is important to Nigeria’s future.
You can join the discussions with the hashtag
#CocoaVC
.
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Hon Minister of Finance, Budget and National Planning,
@zshamsuna
, and State Min of Industry, Trade and Investment, Maryam Uwaje, also stopped by the AFEX booth and engaged with the ComX app.
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Our GCEO, Ayodeji Balogun, shares valuable insights on the agricultural commodity exchange model and its role in solving food security challenges in Nigeria.
Read the full article here:
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In this interview with BusinessDay, our GCEO, Ayodeji Balogun, shares his vision, challenges, and milestones in creating a market-driven system that empowers smallholder farmers and improves food security in Africa.
Read more here -
#AFEX
#Commodities
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Reflecting on an impactful week so far!
We were privileged to host delegates from the IFC - International Finance Corporation (IFC) and CME Group at our Nigeria offices.
It was very exciting to talk through our work in the commodities and financial markets and how that plays in
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Another win in the books!!! 🎊🎊
We are thrilled to announce that we’ve been ranked fifth on the Financial Times
@FT
list of Africa’s Fastest Growing Companies.
This is the third year amongst the top 5 companies making waves in Africa. We are proud of the impact we have made
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We launched ComX officially on Monday night, and now you can follow us on
@ComXbyAFEX
where you’ll get the gist on all things ComX.
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At AFEX we say Ba Wasa, which means No jokes! But when the work is a party to usher in the harvest season, we become Xperts at playing!
The AFEX Harvest party train is moving! 🎉💯
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Some rural magic on the TL.
What happens when you celebrate the harvest season with farmers?
Our research shows that you make a lot of farmers happy and get them geared up to reap the rewards of all their hard work.
Watch the full video on YouTube -
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We are thrilled to sign a partnership with Kano State Investment and Properties Limited (KSIP) to drive the growth of the commodity sector in Kano State for economic productivity.
This is a significant step in our journey to foster seamless market integration for commodities.
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Yesterday, we unveiled the AFEX 2023 Crop Production Report, exploring market trends, production overviews, and future projections.
We also had a panel that addressed critical concerns on food pricing, production, and trends, proposing solutions revealed in the report.
You can
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"If you consider Nigeria’s storage facilities/ capacity per capita, we are only storing one derica of rice per person which would put us in trouble in times of disaster."
#AgraInnovate
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Key to unveiling this investment opportunity is telling the AFEX Story: one of grit, continuous learning and massive innovation.
#AFEXBrokerMeetUp
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We've got big news!
Our GCEO, Ayodeji Balogun, has emerged as a laureate among the “Choiseul's Top 100 Africa Economic Leaders of Tomorrow 2023.”
Choiseul 100 Africa spotlights the top 100 young African leaders shaping the continent's economic future. 🚀
Proud of Ayodeji
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Congratulations to
@MarbleCapital
for launching Nigeria's 1st-ever commodity fund! They offer ethical, halal, & impactful investment products in commodities that increase income and diversification
We're proud of their dedication & service to the capital market & its growth. 🚀
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As you offer your prayers on Eid-ul-Adha, we hope that the true spirit of this auspicious occasion fills your heart with happiness, good cheer and the spirit of selfless sacrifice.
Have a blessed Eid-ul-Adha!
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In case you missed it, our 2020 - 2024 Impact Report is live!
Our team has been working tirelessly and we are proud of our journey transforming our ecosystem.
Gain access to the full report 👇to learn more about how we empower farmers and communities to thrive.
🔗
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It’s the D-Day of the Code Cash Crop 4.0 🎊
Are you ready?! Because we are!💪
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What kind of company qualifies to be an Agritech?🤔
Are all Agric crowdfunding investment platforms really Agrictech? 🤔
Join the conversation on Sunday as we discuss this topic.
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As we get ready for the unveiling of our 10-year Impact Report, we can’t help but reflect on the last one. This year, we’re excited to share all the incredible work we’ve been doing to empower smallholder farmers in Africa and drive inclusion and productivity within the
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Get ready to meet our Bar Raisers.
Over the past few weeks, we’ve had the pleasure of sitting together with some of the brightest minds in Africa, who are ready to take on challenges in corporate finance, strategy, investment, and the financial markets.
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We are extremely proud to be collaborating with
@FMDQGroup
as this helps our goal of increasing our product offerings to investors.
This collaboration recognises the importance of product innovation to market development and the participation of a wider swathe of investors.
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Less than 14 minutes to go to launch the AFEX Grain Quality Enhancement Center and the biggest storage infrastructure in Kaduna state.
You’re welcome to join if you’re around Tashan Yari, Zaria-Kano Highway.
#AFEXPlantLaunch
#APL2022
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Meet Folasewa Abdulsalam, first runner-up of AFEX Code Cash Crop 3.0 Ag Hackathon.
Her business idea, Plamfarms, is a B to C farm management platform that enables customers to shop for fresh vegetables directly from the farmer and helps the farmers in their sales analytics.
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📢 Exciting news! Our GCEO, Ayodeji Balogun, was featured in an exclusive interview by Oxford Business Group, sharing insights on how AFEX is revolutionizing the financial ecosystem, empowering farmers with enhanced access to vital support systems.
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We are proud to announce that
@LeadwayInsure
, in partnership with
@AdvisorsPula
and
@Heifer
International is disbursing a N110 million payout to AFEX farmers who were victims of the 2023 ginger infestation in Nigeria.
This payout marks a milestone in protecting farmers by
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"For financial inclusion, digital helps drop the cost of reaching low income people by up to 90%"
@rodger_voorhies
at the Smallholder Financing Session of AGRF 2019
#AGRF2019
#GrowDigital
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The 3rd cohort of the Bar Raisers program is still open for applications.
If you're a recent graduate with an interest in Corporate Finance, Strategy, Investment, and the Financial Market, this program is an opportunity for you.
Apply here:
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It’s amazing how much fun you can have at
#AGRFinDar
#AGRF2023
while making value business connections.
@TheAGRF
#afexatagrf
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Happy to announce that we're now receiving applications for the 3rd cohort of our Bar Raisers program for persons in the economics, finance, accounting and related fields.
This program is for young talents with little to no experience in their fields who want to gain experience.
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Great read from
@StearsBusiness
on the Sesame Seed value chain in Nigeria which is currently leading the country's ranking on agriculture exports.
The crop is set to join AFEX's listed commodities in the coming months.
Exciting times ahead.
The AFEX Commodity Exchange Market (
@AFEXNigeria
) plans to include sesame seeds in its listings.
Getting a crop like sesame seeds listed would guarantee its value and open up an avenue to yield further returns for investors.
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Thank you for attending this virtual ribbon-cutting ceremony as we officially reveal AFEX’s corporate website! 🎉
With great excitement, we cut the ribbon on this new chapter for our company. We can't wait for you to explore all that our new website has to offer.
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We are excited to announce that we have moved to the next phase of our Code Cash Crop 3.0 Ag-Hackathon-CALL FOR PROPOSALS
For the next phase, we are looking for innovators in the technology, finance, and agriculture fields to bring ideas forward and to pitch an AgriTech solution-
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Our Commercial Manager
@3iiruansi
will be answering a bunch of the questions that will come up on our Tweet Chat with
@Nairametrics
on Friday (23rd August, 2019) by 2pm.
Our topic remains Cocoa as the Future! Join in the conversations using the hashtag
#CocoaVC
#Cocoa
#Exports
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In this video Opadeji Opakunle explains the AFEX Commodities Index (ACI), which is a very helpful tool that can be utilized to measure the changes in commodity prices in the Nigerian market.
#capitalmarketnews
5
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It was a beautiful time at
@TechpointAfrica
's Lagos Startup Expo today, where we had interesting conversations about our offerings.
We also had fun talking about everything Code Cash Crop 4.0 & enjoyed seeing people geared for this year's edition.
#lagosstartupexpo
#CCC4
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The performance of commodities has always been tied to the success of the planting season in Nigeria. This critical period sets the tone for the entire commodities landscape, influencing harvests, market dynamics, and the overall agricultural sector.
Our 2023 Crop Production
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Excited to introduce the brilliant minds shapingtheir careers and the future of AFEX through our Bar Raiser program.
Bringing innovation, expertise, and passion to corporate finance, strategy, and investment.
Cheers to Anu, Afeex, Peace, Ilem, and Sadiq as they embark on this
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Before 2024 begins, we want to pause and take a look at some of the defining numbers and moments for us this year. It’s been a year full of many firsts, highs and lows, and everything in between.
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In just 4 years, Obianuju Okafor, Head, Brand & Corporate Communications has become a leading voice and the creative force behind AFEX's communication strategy, crafting impactful stories that resonate with AFEX's mission.
Read her Xpansion story here:
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We understand the burdens and pressure men face, and so we thought of giving them a moment to relax, recharge and break from the endless work cycle.
So, we did a thing at our offices. We asked all the men to close earlier from work, and surprised them by rearranging the office
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Every number tells a story.
When discussing impact in our context, we measure it by the tangible improvements in the lives of smallholder farmers, the enhanced prosperity of communities we’ve reached, and the multifaceted contributions we’ve made to the economy.
Visit the link
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