About Us - AFEX

Welcome to AFEX

We have built an organization that we are proud of which provides innovative solutions for the Agricultural sector in Nigeria. Our team of young, vibrant and ethical people seek to maximize the value that farmers and market participants derive from their activities. This focus has led to the development and deployment of a number of solutions which have resulted in gains for Nigerian smallholder farmers, processors, exporters, and the Nigerian economy at large which is benefiting from a growing commodities landscape. In this way, we are indeed growing markets and connecting trade.

Our Vision

AFEX Nigeria’s vision is to create a lasting institution that capitalizes on the country’s agricultural potential to achieve regional (West Africa) food security and support small-holder farmers to increase their income earning capacity; ultimately reducing the barriers to competitiveness of the Nigerian agricultural sector.

Our Mission

Our mission is to increase liquidity in commodities markets and provide local and global market participants with an efficient method for price discovery as well as the ability to carry out trades, without taking on counterparty risks. AFEX Nigeria will provide solutions to farmers’ challenges in aggregation, storage, financial inclusion and selling of their products.

What We Do

Commodities Exchange

We issue farmers our electronic warehouse (e-Wrs) receipt for the produce that they stash in AFEX warehouses. The electronic warehouse receipt can be used as collateral by the farmers to access financing from financial institutions and is also tradable on the Exchange.

Financial Inclusion

We have a strategic partnership with the Nigeria Inter-bank Settlement System that allows us to provide a platform for millions of small holder farmers to be included in the financial sector. With our access to offline BVN devices, we are able to register the farmers and profile them.

Secured Storage

We prioritized the development of an ancillary infrastructure critical to the development of agriculture at large, which now allows us to give farmers a secure place to store their produce, enabling them to retain some influence in the market all year round. Through our storage infrastructure, farmers can also aggregate their produce with those of other farmers allowing them to access larger markets.

Founding Companies

Berggruen Holdings is the investment vehicle of The Nicolas Berggruen Charitable Trust. Over the last 20 years, Berggruen Holdings has made well over 100 investments using its own proprietary capital, which has allowed for longer investment horizons, flexibility in financing, and swift investment decisions. Its strategy in carrying out private equity activity emphasizes creativity and speed in evaluating and acting upon potential investments. Nicolas Berggruen is the Chairman of Berggruen Holdings.

50 Ventures, LLC is a strategic advising and investment consultant company based in Alexandria, VA that provides expertise on international affairs affecting Africa and African business investments. Built on knowledge from over thirty years of professional experience in Africa, 50 Ventures provides innovative ideas on governance, stability and security, enterprise, and risk management along with an extensive network of key relationships throughout the African continent.

Heirs Holdings is an African proprietary investment company driving Africa’s development through long-term investments in key sectors. Heirs Holdings has consistently invested in sectors that provide strong, long-term returns and have the ability to move Africa’s economy forward.

Ngali Holdings Ltd is a Rwandan company investing in a wide range of industries across the African continent. Driven by the desire to see African markets grow, Ngali Holdings specializes in long-term, wide-scale infrastructure projects with a holistic focus; many of which arise from Ngali Institute, one of its subsidiary companies primarily dedicated to the research of barriers to economic growth. Ngali Holdings is committed to investments of high profitability and operational excellence, and marks ultimate success of any investment as the impact it is able to have on the African continent.

Management Team