General News
AFEX Expands Operations to Kenya
AFEX, Nigeria’s commodities exchange and commodities market player, announces its expansion into Kenya, following a successful pilot phase in the most diversified economy in East Africa.
As part of the expansion, AFEX Fair Trade Limited (AFTL), has launched a $1 million loan program that will allow farmers to gain access to seed and fertiliser for their crops, to mitigate ever rising commodities prices. Under the program, 5000 Kenyan farmers will be able to take out input loans to access timely inputs and gradually scale their businesses.
Part of the company’s broader pan-African growth targets, the expansion will allow AFEX to replicate its success in Nigeria in securing better livelihoods for smallholder farmers and enable seamless access to pan-African commodities trading across the continent, while bolstering the continent’s food security.
Recently named first in the Financial Times (FT) ranking of Africa’s Fastest-Growing Companies – Agriculture & Commodities category 2022, AFEX is bringing its depth of experience, and unique storage and distribution solutions to Kenya, with a goal of trading over 500,000 metric tonnes of agricultural commodities by 2025. As of November 2021, analysts estimate 7.9 million people in Kenya lacked sufficient food for consumption, which represents 15.4 percent of Kenya’s population.
AFEX enables farmers to participate in market opportunities through its unique platform WorkBench. The platform allows farmer transactions with AFEX’s network of warehouses to be executed and recorded, supporting seamless trade across the eight warehouses currently operational in Kenya.
AFEX Kenya’s new 14-strong team is headed up by Managing Director, Tabitha Njuguna, who oversaw its successful pilot phase, during which time maize was the main commodity traded. There are plans to add rice, sorghum, and coffee to the exchange in the coming months.
In Uasin Gishu County, in the North Rift region of Kenya, AFEX identified a number of challenges for local producers, including access to affordable storage facilities, which meant many farmers storing their crops at home.
Additionally, despite a high level of mechanization, as well as relatively expansive land holdings, producers find themselves cut off from opportunities to sell their produce, often relying on middlemen.
AFEX launched its Kenyan pilot operations in the last quarter of 2021, and has already recorded significant results, with over 4,000 metric tonnes of commodities traded and an estimated 7,100 served by AFEX.
The Kenya expansion signals AFEX’s infrastructure commitment across the continent as it exports its business model to key strategic locations.
In addition to Kenya, AFEX plans to expand to Benin, Togo, Ghana, Côte d’Ivoire, Tanzania, Ethiopia, Uganda, and Zambia within the next 10 years.
Having built itself from the ground up in an agricultural sector widely perceived as one difficult for businesses to operate in, AFEX is anticipating strong growth and significant measurable impact in Kenya’s relatively more developed agricultural sector.
Kenyan farmers have, on average, larger holdings than their Nigerian counterparts, in addition to better developed storage and distribution facilities.
Ayodeji Balogun, CEO at AFEX said, “This is one of the most dynamic commodities markets in the world and we are excited to work with Kenyan farmers to help them scale their operations. We are acutely aware that increasing food production is futile without an efficient and robust warehousing system to underpin commodities trading, and that technology is key to developing the whole agriculture space in Africa in the coming years.
“I started my career building capital markets in East Africa and understand the challenges of a fragmented supply chain, inefficient price structures and market volatility.
“We’ve been massively encouraged by what we’ve seen since our pilot phase rolled out with thousands more farmers experiencing productivity, value capture and access to structured mechanisms for commodity trading in Kenya.
“With our experience of helping farmers to directly access markets, we’re uniquely positioned to help Kenyan farmers contribute to their national food security while ensuring sustainable development for future generations.”
Tabitha Njuguna, MD, AFEX Fair Trade Limited (AFTL) Kenya, added, “The technology powering our operations is one of the best on the continent and is instrumental to our capacity to provide access to logistics delivery, advisory services, inputs, and crucially, access to the market, which are all key to the future of agriculture in Africa.
“We want to dismantle one of the biggest barriers for farmers growing their business – access to finance. So far, we’re delighted to have enabled 70 percent of the 5,000 Kenyan farmers who approached AFEX for input loans and we are committed to empowering many more farmers over the next few months.”
AFEX works closely with smallholder farmers and uses its unique tech solutions to increase yields and productivity. The company has provided support to over 350,000 farmers across major grain-growing states in Nigeria.
AFEX has over 126 warehouses in Nigeria with a storage capacity of 314,000MT. Since its launch in 2014, AFEX has committed to levelling-up Africa’s agro-tech sector. By bridging the gap between Agro-processors and investors, AFEX boosts food security and makes food production more efficient.
Young Nigerian tech genius, Oluwatobi Oyinlola, has developed the world’s smallest GPS tracking device, a prototype measuring just 22.93 x 11.92 mm.
Recognised by the Guinness World Records, the device was created at the prestigious Massachusetts Institute of Technology (MIT), USA, on April 27, where he is employed as a researcher.
It has been hailed for its potential across industries, from logistics and personal safety to medical devices and wildlife monitoring.
Nigeria’s President Bola Ahmed Tinubu celebrated the feat in a post on X, praising Oyinlola for showcasing the ingenuity of the West African country’s youth. “You have just shown the world that Nigerian youth can!” he wrote.
Adding to the accolades, Minister of Communications, Innovation and Digital Economy, Bosun Tijani, lauded the innovation as a symbol of national pride and technological potential.
He commended Oyinlola’s journey, noting his early support for the young inventor’s IoT startup. “Long before this global recognition, I had the privilege of backing Oluwatobi. His journey, now continuing at MIT, is a powerful reminder of the extraordinary potential of our people,” Tijani said.
The prototype not only marks a leap in miniaturised technology but also highlights Nigeria’s growing footprint in global innovation. Bosun added that as Nigeria intensifies efforts to nurture homegrown tech talent, Oyinlola’s success is a beacon for the next generation of innovators.
“The world is only beginning to see what you’re capable of,” said the Minister.
Africa is becoming a global hub for solar energy development. The commercial and industrial sectors are driving this trend, with photovoltaic systems being installed on-site at businesses, educational institutions, and government facilities to meet energy demands.
This is according to CBi-electric: low voltage, which manufactures and supplies low voltage electrical distribution, protection, and control equipment.
2.5 gigawatts-peak (GWp) of solar capacity was built across Africa in 2024, with 194.34 GWp expected in 2025, according to the company.
Dr. Andrew Dickson, engineering executive of CBi-electric: low voltage, outlines how several reasons are hastening the continent’s transition to solar. “Energy poverty remains a major issue across Africa, with reliable grid electricity reaching only 14% of Zimbabweans, for example.”
He goes on to say that inconsistent power supply is another significant contributor, stating that “Persistent nationwide blackouts are affecting countries like Botswana, disrupting day-to-day operations. And in hydro-electric dependent countries such as Zambia, climate change is reducing water levels, leading to lower electricity generation and higher prices.”
Dickson believes that strategic system design and management are critical to realising the full potential of solar energy on the continent.
He said: “As Africa’s solar energy market continues to expand in 2025, organisations have an opportunity to capitalise on its long-term benefits. With the right technologies and safeguards in place, solar is not only a clean energy solution it’s a strategic asset that pays off.
“By combining surge protection, DC breakers, and monitoring tools, businesses can reduce unexpected costs, minimise downtime, and extend the life of their investment.”
Federal Government of Nigeria has launched a major initiative to train over 200,000 Nigerians in Artificial Intelligence (AI) and other emerging technologies, aiming to build a digitally skilled workforce and position Nigeria as a continental leader in AI-driven innovation.
The announcement was made by Chief Uche Nnaji, Minister of Innovation, Science, and Technology, during the 10th Annual Symposium and Awards of the American Chemical Society (ACS), Nigeria International Chemical Sciences Chapter, held at the National Open University of Nigeria (NOUN) in Abuja.
AI’s Role in Sustainability and Economic Growth
Chief Nnaji, represented by Dr. Patricks Oghuma, Special Assistant to the Minister, emphasized the transformative power of AI, particularly when integrated with chemistry to address sustainability challenges.
“We are at the intersection of a revolution where artificial intelligence and chemistry converge to create new frontiers,” he stated. “This powerful synergy offers a vision of the future where innovation and sustainability work hand in hand”.
He also highlighted the gap between scientific research and real-world application, stressing the need for transformational research that directly solves real-world problems through AI.
Academic and Industry Collaboration
The Vice-Chancellor of NOUN, Prof. Olufemi Peters, echoed the Minister’s sentiments, noting that AI’s ability to model, predict, and optimize is vital for reducing waste, conserving energy, and enhancing chemical processes.
“At NOUN, we remain committed to providing accessible, technology-enhanced education that directly addresses national and global challenges,” Prof. Peters said.
The symposium gathered key stakeholders in science, technology, and academia, focusing on leveraging AI to drive sustainable solutions and calling for stronger collaboration between research institutions, industry, and government.
Building a Knowledge-Driven Economy
Prof. Edu Inam, Chair of the ACS Nigeria Chapter, reinforced the society’s commitment to research mentorship and student engagement, noting that ACS continues to host campus events and outreach programs aimed at nurturing young scientific minds.
The initiative is expected to accelerate Nigeria’s AI adoption, fostering economic growth, sustainability, and technological advancement across multiple sectors.
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