AFEX GEO SPREAD
LEGEND

LEGEND

AFEX Nigeria has successfully implemented its electronic warehouse receipt system in warehouses across North-Western Nigeria, and is currently expanding to North-Central states in preparation for the 2015 season.
Through its sister company based in East Africa, AFEX Nigeria will be linked to buyers and sellers on both sides of the continent with a combined mae

Market Size

Kano
Due to non-availability of credit products (Warehouse Receipt Financing) from banks for farmers, coupled with CMI and other operational (security etc.) related delays we had between December and January 2015, we missed out on the selling and storage transactions from farmers. This will affect our projections for the storage business, however we are optimistic that the trading revenues will largely compensate for this loss. As of today, Zaria, Makarfi, Saminaka-1 and Saminaka-2 (all one location under CMI arrangement) have stock in them. Zamfara, and Kano have been equipped, but no commercial deal to activate them yet (although we moved some equipment from Kano to Saminaka-2, and will need to replace). If by end of March we do not have any contract or pipeline deal, we will down size in Kano, Zamfara and Dutsema locations
Kaduna
Due to non-availability of credit products (Warehouse Receipt Financing) from banks for farmers, coupled with CMI and other operational (security etc.) related delays we had between December and January 2015, we missed out on the selling and storage transactions from farmers. This will affect our projections for the storage business, however we are optimistic that the trading revenues will largely compensate for this loss. As of today, Zaria, Makarfi, Saminaka-1 and Saminaka-2 (all one location under CMI arrangement) have stock in them. Zamfara, and Kano have been equipped, but no commercial deal to activate them yet (although we moved some equipment from Kano to Saminaka-2, and will need to replace). If by end of March we do not have any contract or pipeline deal, we will down size in Kano, Zamfara and Dutsema locations
Jigawa
Due to non-availability of credit products (Warehouse Receipt Financing) from banks for farmers, coupled with CMI and other operational (security etc.) related delays we had between December and January 2015, we missed out on the selling and storage transactions from farmers. This will affect our projections for the storage business, however we are optimistic that the trading revenues will largely compensate for this loss. As of today, Zaria, Makarfi, Saminaka-1 and Saminaka-2 (all one location under CMI arrangement) have stock in them. Zamfara, and Kano have been equipped, but no commercial deal to activate them yet (although we moved some equipment from Kano to Saminaka-2, and will need to replace). If by end of March we do not have any contract or pipeline deal, we will down size in Kano, Zamfara and Dutsema locations
Lagos
Due to non-availability of credit products (Warehouse Receipt Financing) from banks for farmers, coupled with CMI and other operational (security etc.) related delays we had between December and January 2015, we missed out on the selling and storage transactions from farmers. This will affect our projections for the storage business, however we are optimistic that the trading revenues will largely compensate for this loss. As of today, Zaria, Makarfi, Saminaka-1 and Saminaka-2 (all one location under CMI arrangement) have stock in them. Zamfara, and Kano have been equipped, but no commercial deal to activate them yet (although we moved some equipment from Kano to Saminaka-2, and will need to replace). If by end of March we do not have any contract or pipeline deal, we will down size in Kano, Zamfara and Dutsema locations
Kebbi
Due to non-availability of credit products (Warehouse Receipt Financing) from banks for farmers, coupled with CMI and other operational (security etc.) related delays we had between December and January 2015, we missed out on the selling and storage transactions from farmers. This will affect our projections for the storage business, however we are optimistic that the trading revenues will largely compensate for this loss. As of today, Zaria, Makarfi, Saminaka-1 and Saminaka-2 (all one location under CMI arrangement) have stock in them. Zamfara, and Kano have been equipped, but no commercial deal to activate them yet (although we moved some equipment from Kano to Saminaka-2, and will need to replace). If by end of March we do not have any contract or pipeline deal, we will down size in Kano, Zamfara and Dutsema locations
Zamfara
Due to non-availability of credit products (Warehouse Receipt Financing) from banks for farmers, coupled with CMI and other operational (security etc.) related delays we had between December and January 2015, we missed out on the selling and storage transactions from farmers. This will affect our projections for the storage business, however we are optimistic that the trading revenues will largely compensate for this loss. As of today, Zaria, Makarfi, Saminaka-1 and Saminaka-2 (all one location under CMI arrangement) have stock in them. Zamfara, and Kano have been equipped, but no commercial deal to activate them yet (although we moved some equipment from Kano to Saminaka-2, and will need to replace). If by end of March we do not have any contract or pipeline deal, we will down size in Kano, Zamfara and Dutsema locations