Electronic Warehouse Receipt System

AFEX Nigeria has deployed an electronic Warehouse Receipt System (e-WRS) to securitize the underlying commodities, instill integrity of trade and facilitate access to finance. The e-WRS is a real-time online inventory management system with the ability to transfer stock between buyers, sellers and banks. The e-WRS represents a legal title of ownership of the security and offers increased reliability, lower transaction costs, and limitless geographic reach. E-WRs can be transferred to a new holder or a lender (where the stored commodity is pledged as security against the receipt for a loan) to secure financing for the purchase of seeds, fertilizers, and equipment for any farming operations or used by cooperatives and commodity merchants to access working capital facilities from financial institutions.