AFEX
“Can a private commodities exchange become the financial backbone of African agriculture by embedding financing, trading, and market infrastructure into one platform?”
Founded2014
HQAbuja, Nigeria
IndustryFintech / Commodities Exchange
The story
AFEX (AFEX Commodities Exchange Limited) was founded in 2014 as Nigeria's first licensed private commodities exchange. It operates a trading, financing, and market-system-development platform for agricultural commodities across Africa, offering cash-settled and deliverable spot contracts, Fair Trade Exchange Traded Commodities (FETC), and commodity-backed fixed income products. Its embedded finance angle is primarily commodity-backed lending and warehouse-receipt financing to agricultural value chain players.
Last 12 months
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Product timeline
2014
Established as Nigeria's first licensed private commodities exchange.· launch
Regulated entities
1
regulatory licence held by AFEX
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in AFEX’s embedded-finance stack
Lending
AFEX (in-house)Agricultural input financing for farmersCommodity aggregation financingCommodity-backed fixed income products
Accounting gap: none