we are creating opportunities for
everyone in the commodities ecosystem



Creating the right incentives and a shared platform to change the food systems in Africa - making them more inclusive, scalable and efficient, with shared prosperity and trust embedded.


Co-creating solutions to help Africa feed itself

We have built an organization that providesinnovative solutions for the Agricultural sector in Nigeria.

Our team of young, vibrant and ethical people seek to maximize the value that farmers and other 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, investors and the Nigerian economy at large, which is benefiting from a growing commodities ecosystem. In this way, we are indeed growing markets and connecting trade.

Our Milestones


We introduce Nigeria’s first ever commodities index – the AFEX Commodities Index (ACI) tracking the changes in price for three key agricultural commodities – maize, paddy rice and soybeans, We continue our capital market integration in earnest introducing the first ever market education platform for commodities – EdEX.


We pilot the flagship #CodeCashCrop event, driving necessary conversation about the intersection of technology, finance and agriculture. We also begin onboarding non-bank financial institutions on the Exchange for farmer financing.


Our trading platform powered by Nasdaq is launched, and is matched with a commencement in the distribution of our weekly commodities price data. We launch our agribooster product in a partnership with OCP Africa, targeting 5000 farmers and also take part in the CBN ABP loan programme as an aggregator.


We launch the Grain Bank and Commodity Exchange project with West Africa Food Market (WAFM), targeting 100,000 farmers. Also launched is the first structured Grain for Fertilizer Programme in Nigeria, and we issue a GBP350,000 repo bond that is fully subscribed to by DFID


We get licensed by the Security and Exchange Commission (SEC) to become the first private sector led commodities exchange in Nigeria


AFEX Commodities Exchange Limited (AFEX Nigeria) is established in Nigeria with an overarching outlook to develop a workable warehouse receipt system

TheXpert Formula

Our not-so-secret process for building products that are
transforming the commodities ecosystem.

Start with the Heart

01. Start with the Heart

Center people in conceptualizing products. Think of their pain points and set out to create solutions that fit them.

Use the Data as a Map

02. Use the Data as a Map

Collect and work with valuable data while building products. Let it guide the process and inform decisions.


03. Co-create

Work together to bring products to life. Contribute your part to the team's process and always execute.

Ayodeji Balogun
Chief Executive Officer (CEO)
Akinyinka Akintunde
Vice President, Financial Markets
Hemense Orkar
Vice President, Commercials
Kunle Adesuyi
Chief Financial Officer (CFO)
Michael Makama
Sales Operations Manager
Isioma Oride
Internal Control and Compliance Manager
Nancy Ochonwe
Trading Manager
Kamaldeen Raji
MD, AFEX Fair Trade Ltd
Live market