AFEX, a pan-African commodity trader, has released its second impact report covering its activities over the past five years.
The company, which started operations in 2014, has worked with more than 500,000 farmers and executed trades of more than 1 million tonnes since its inception. After publishing its first impact report in 2021, AFEX has doubled down on driving impact through its activities in Africa's primary commodity markets, actively contributing to SDGs 1, 2, 5, 8, 12 and 13.
The new report features the latest version of the AFEX Theory of Change, which was first published in 2021, when the first report was published. Our work on climate action SDG 13 is also highlighted and placed in the context of the table of contents and detailed report.
The effects of climate change are becoming increasingly important in Africa, with farmers facing record impacts on their operations. Increased floods, droughts and reduced rainfall threaten farmers' productivity and create food insecurity. AFEX is helping African farmers enable climate-resilient and sustainable agriculture, which can increase Africa's food security while achieving self-sufficiency for the continent.
Rural poverty in Nigeria will further increase in 2023 compared to the 2020 baseline measurement, the report says.
“More than 80 per cent of Nigerian farmers still live at or below the poverty line, while 43 per cent of Kenyan farmers live at or below the poverty line.”
With operations across both countries, AFEX provides farmers with certified seeds, high-quality fertilizers, and expansion and storage services through strategically distributed warehouses to help secure their livelihoods. emphasized.
Ayodeji Balogun, Group CEO of AFEX, said: “Our impact objective is to create an efficient yet comprehensive product market, which is essential for us to grow and expand our business. This guarantees that we will be able to build a
“We aim to create positive change wherever we operate by empowering farming communities, promoting economic opportunity and helping Africa become sustainably self-sufficient. Masu.”
AFEX Nigeria Chairman Akininka Akintunde said: “This report marks an important milestone for AFEX. We will continue to build our food system for the future and create shared prosperity so that no one is left behind on the journey to transform our agro-ecosystem.”
He added that creating sustainable value in commodity markets requires a comprehensive approach, especially as challenges are exacerbated by the effects of climate change.
“AFEX continues to drive change in this challenging environment, with our business focused on improving lives, quality food, and contributing to well-functioning markets,” he said.
AFEX is a platform business that enables efficient trading of goods in Africa.
