AFEX raises $50m to finance Agri-SMEs in Nigeria

AFEX raises $50m to finance Agri-SMEs in Nigeria

AFEX raises $50m to finance Agri-SMEs in Nigeria     AFEX Commodity Exchange has announced the first Warehouse Receipt Backed Commercial Paper in Africa, with tech-enabled operations and a 24-hour fast cash turnaround for borrowers. With over $50 million raised for Agri-SMEs in Nigeria, the exchange hopes to bridge the funding gap between lenders and borrowers in the Nigerian agricultural sector with a commodity-backed instrument – for the first time. In a statement on Wednesday, it said that its financing deal will help eradicate the high cost of procurement incurred…

Read more