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AFEX Launches FETC Product on New Digital Trading Platform

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Africa’s commodities player, AFEX, has launched Africa Exchange, a digital platform for trading commodities. The platform follows AFEX’s first foray into digital commodities trading with the launch of ComX in 2020.

 

This new trading platform further transforms the commodities space in Africa by enabling commodities market players to meet and interact both in the physical and financial markets. Data and information crucial to decision-making are readily available on the platform, offering a comprehensive and informed trading experience.

Africa Exchange provides a structured marketplace duly regulated by Nigeria’s Securities and Exchange Commission (SEC), ensuring that users can participate in various trade or investment opportunities.

Africa Exchange will replace ComX, which has served over 80,000 investors in Nigeria and facilitated trades worth over USD 200 million since it was launched in 2020. The transition further bolsters AFEX’s mission of facilitating wealth creation for a new generation of Africans by providing them with alternative investment options to enrich their existing portfolios.

Additionally, AFEX aims to enhance intra-African trade by strengthening commodities trading within Africa and supporting the African Continental Free Trade Agreement’s (AFCFTA) mission to improve regional trade integration to boost economic development and food security across the continent.

Presently, only 14.4% of Africa’s exports come from trade between African countries. However, the AfCFTA could increase intra-African trade by approximately 33% and reduce the continent’s trade deficit by 51%, according to the United Nations Conference on Trade and Development (UNCTAD).

In line with the United Nations Sustainable Development Goals (SDGs) 1, 2, 5, 8, and 12, the launch of Africa Exchange is a significant milestone towards achieving the AfCFTA. The platform promotes fair market prices that help farmers earn more and increase food production. It also enables investors to diversify their portfolios while supporting the financing of the food ecosystem.

Commenting on the launch, Akinyinka Akintunde, CEO and President of AFEX Nigeria, said: “As a team, we are excited and proud to launch Africa Exchange as another step in building the digital infrastructure to facilitate trade across Africa. With this launch, our goal is to boost the commodities market in Africa and allow more investors to participate with all the information that they need at their fingertips”.

He continues, “Commodities have been high-performing assets in recent years; in 2021, commodities were the third highest performing asset class, averaging about 37.1% in returns, while stocks averaged about 36.9%.

The commodities market has grown in sophistication over the years with the likes of commodity brokers and other institutional players making their mark and creating opportunities for trading. With Africa Exchange, we are opening the African commodities ecosystem to more investors and players.

Through the platform, users can directly trade physical commodities or invest in commodity-backed financial instruments.”

Alongside the platform launch, AFEX is also reintroducing its innovative Fair Trade ETC (FETC) product. The FETC is a commodity bundle in one contract designed to provide investors with exposure to the market in a way that maximizes the risk-return balance of the underlying commodities.

The instrument has a maturity period of 270 days and historically significant returns, with both tranches in 2022 returning 31% and 20%, respectively. The FETC is set to open on the Africa Exchange platform on the 1st of December at a unit price of just N1000, and for the first time in the product’s history, it will be tradeable within the tenor period, after a 120-day hold.

Funto Olasemo, Vice President, Financial Markets at AFEX, said, ‘For the last 8 months, we have been focused on improving our core infrastructure and delivering a better digital interface for commodities trading and investment on the continent. We have continued to also pursue product innovation, and the new tranche of our FETC product is a great example of that.”

“The FETC has been a hugely successful product since we introduced it in 2020, and we have structured a tradeable component into this tranche, giving investors even more freedom as they build wealth. The team is excited that we are facilitating wealth creation for a new generation of Africans by providing them with alternative investment options to enrich their portfolios.”

AFEX is committed to improving intra-African trade. To achieve this goal, the company has been bullish in pursuing its strategic Pan-African expansion plan since expanding into Kenya and Uganda in 2021 and 2022.

AFEX is set to expand to six other African countries within the next few years with the aim of promoting efficient trade in commodities across the continent while supporting the objectives of the AFCFTA to boost regional trade integration.


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General News

FG Plans Special Court for Exam Cheats

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Federal government has proposed setting up a National Examination Malpractice Court to swiftly prosecute exam cheats and curb malpractice nationwide.

FG Plans Special Court for Exam Cheats

Dr. Tunji Alausa, minister of Education, affirmed this recommendation of the 17-man committee headed by Professor Is-haq Oloyede, Registrar of the Joint Admissions and Matriculation Board (JAMB) as chairman, on Improvement of the Quality of Examination in Nigeria.

The committee which the Minister inaugurated in January this year submitted its interim report to him on Friday after about five months of extensive work, coming up with far-reaching recommendations aimed at improving the quality of examination and curbing examination malpractices in Nigeria.

Oloyede, in one of the recommendations, asked the Federal Ministry of Education to interface with the National Assembly to enact an Act to establish a National Examination Malpractice Court/Tribunal for prompt prosecution of examination malpractices to serve as a deterrent to others.

Alausa, in his response, assured the committee members that all the 12-point recommendations would be implemented, saying the government would deploy all its machinery to fight the menace of examination malpractice in Nigeria.

His words: “All the 12 recommendations that you reeled out, everyone will agree with me today that none of those recommendations will be impossible to implement. They are all practicable things. The one that we will implement now, we will do that right away, and once we leave here, myself and the permanent Secretary have work to do”.

Some of the recommendations of the committee include: “All documents, including certificates, registration and result slips, etc., should contain National Identification Number (NIN), photograph and date of birth to guard against identity theft and impersonation.

“All Invigilators and Supervisors must register through NIN and subscribe to the Examination body’s Short Code, using the same pattern of 55019/66019 of JAMB in order so track and have full information about the examination officials, including examiners, supervisors and invigilators.

“Swapping Invigilators and Supervisors, not candidates, should commence with effect from the 2025 private SSCE due to the strong views against student swapping expressed by the four concerned examination bodies (WAEC, NECO, NABTEB and NBAIS) pertaining to security, logistics and the fact that centre details are traditionally printed on candidates’ certificates

“Except where absolutely impossible, Invigilators and Supervisors should always be public officials/teachers on pensionable appointments.

“The standard requirements of examination halls/centres should not be waived for any school, while the recommended seating arrangement should be 1.5m by 1.2m, or 1.8 sqm per candidate.

“All examination halls and centres should be equipped with stationary CCTV cameras for surveillance and monitoring purposes. In addition, every examination centre shall have a mini control room where the CCTV camera is monitored for urgent and immediate alert.

“All four concerned examination bodies shall jointly own central control facilities for their use during their examinations to save costs. Body camcorders should be deployed in examination halls and centres for effective monitoring.

“At the point of entry into Basic School, every pupil must generate a unique code which is linked to his/her NIN, which must be identified with the pupil throughout his/her educational journey in Nigeria.

“The Federal Ministry of Education should interface with the National Assembly to enact an Act to establish a National Examination Malpractice Court/Tribunal for prompt prosecution of examination malpractices to serve as deterrent for others.

“The non-implementation of the 1999 Examination Malpractice Act suggests either a lack of political will or non-implementability. Consequently, the Committee recommends a review of the Act in such a manner that it can be immediately implemented to curb examination malpractice.

“Rather than wait till 2027 as initially suggested, the Computer-Based Examination (CBE) should be implemented for objective questions in 2025 private examinations and in full for school candidates in 2026.

“The 30 per cent Continuous Assessment component in the Senior Secondary Certificate Examinations has become a veritable source of corruption in the examination system due to the fraudulent process of inputting the scores in arrears.

“It is therefore recommended that the Nigerian Educational Research and Development Council (NERDC) and any other FME agency, which must have recommended the policy for the approval of the National Council on Education (NCE), should immediately be requested to review the Continuous Assessment System”.’

 


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Nigeria Relaunches National Talent Export Programme to Unlock $1 Trillion Global Outsourcing Market

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The Federal Ministry of Industry, Trade and Investment has announced the relaunch of the National Talent Export Programme (NATEP), a bold initiative led by the Honourable Minister, Dr. Jumoke Oduwole.

The renewed programme is designed to tap into the $1 trillion global outsourcing industry by positioning Nigeria’s youth as a world-class talent pool for digital and professional services.

“What we celebrate today is not merely the launch of a program; it represents the continuation of a vision to position Nigeria as a global leader in the future of work and services,” said Dr. Jumoke Oduwole, Honourable Minister of Industry, Trade and Investment.

“With digital transformation firmly embedded in President Bola Ahmed Tinubu’s economic vision, Nigeria is enhancing the infrastructure, systems, and policy tools necessary for an inclusive and innovation-driven future.”

In alignment with President Tinubu’s 8-point agenda, NATEP is designed to empower Nigeria’s youth, harness global service export opportunities, and drive inclusive economic transformation. With a youthful, English-speaking population, a strategic time zone, and rapidly advancing digital infrastructure, Nigeria is uniquely positioned to become a competitive global supplier of skilled talent.

Under the leadership of Dr. Oduwole, NATEP represents a strategic move to diversify Nigeria’s economy, boost foreign exchange earnings, and create sustainable employment.

The programme will focus on aggregating global demand and connecting it with Nigeria’s skilled workforce through structured and ethical talent export pathways.

The Ministry’s goal is to create 1 million direct export-linked jobs and up to 5 million indirect jobs within five years.

In addition, NATEP aims to attract over $1 billion in foreign direct investment to Nigeria’s growing service export economy. This programme targets high-impact sectors such as technology, business process outsourcing (BPO), the creative economy, healthcare, professional services, and remote work.

As part of this relaunch, Mrs. Teju Abisoye has been appointed as the National Coordinator of NATEP. A development finance expert with over two decades of experience, she has led major national employment initiatives and played key roles in government interventions, entrepreneurship support, and private sector engagement.

Her leadership brings clarity, focus, and execution strength to the programme’s vision.

Speaking at the relaunch, Teju noted, “Our mandate at NATEP is to position Nigeria as Africa’s peerless global talent hub by building an enabling ecosystem through policy, platforms, promotion, and partnerships.

We would actualise this critical national objective by upskilling and enabling Nigeria’s teeming young human capital to take advantage of the $1 trillion global service trade, with soaring demand for digital services, outsourcing, and remote work.

This is one of President Bola Ahmed Tinubu’s strategic interventions to tackle youth unemployment head-on, generate vital foreign exchange, and diversify our economy through service sector expansion”.

NATEP, a Special Purpose Vehicle under the Federal Ministry of Industry, Trade and Investment, has evolved from a basic outsourcing facilitator into a full-scale ecosystem enabler. The programme will now drive policy reform, expand digital infrastructure, strengthen international partnerships, and create reliable talent pipelines that match global standards.

Key components of NATEP include:

  • Training 10 million Nigerians in globally recognized digital and professional certifications
  • Incentivizing BPO and IT-enabled service companies to expand operations in Nigeria
  • Creating legal and ethical pathways for talent export in alignment with global labor needs
  • Building a national talent database to map skills and track employment opportunities
  • Partnering with global outsourcing platforms and employers to aggregate demand

In alignment with President Tinubu’s 8-point agenda, NATEP is designed to empower Nigeria’s youth, enhance foreign exchange earnings, and support inclusive economic transformation. With a youthful, English-speaking population, strategic time zone, and growing digital infrastructure, Nigeria is uniquely positioned to become a competitive global talent supplier.

Minister, NATEP Sign MoU with Alaro City and Itana

To mark this renewed direction, the Honourable Minister led a high-level delegation on an official visit to Alaro City, home to Itana, Nigeria’s first Digital Special Economic Zone, on Friday, May 30, 2025.

The Minister also leveraged the visit to execute a Memorandum of Understanding aimed at strengthening public-private sector collaboration and showcasing the infrastructure and innovation ecosystem that will support the programme’s success.

Dr. Oduwole stated, “I am proud to announce a significant milestone in this effort: the successful signing of a strategic agreement to create an initial 100,000 jobs across high-impact sectors — made possible through collaboration with platforms like Itana, Alaro City, and other partners to mark the beginning of a new phase of joint execution.”

 


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Uche Uzoebo, SANEF CEO Makes Case for More Financial Inclusion Strategies Targeting Women

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L-r: Dr Abubakar Nurudeen Zauro- Special Adviser to the Vice President on Economic and Financial Inclusion, Uche Uzoebo- MD/CEO SANEF, Sa’adatu Salley Regulatory Affairs Stanbic IBTC at Reg Tech awards held in Lagos recently.
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Leveraging digital infrastructure is key to accelerating financial inclusion, especially through a multi-stakeholder approach involving governments, fintechs, t​elecoms, regulators and even the customers.

According to the World Bank report, a significant portion of the global adult population remains unbanked.

Specifically, 27% of adults globally are considered unbanked, and an additional 50% are underbanked, defined as lacking a credit card, , according to Lucidity Insights.

By investing in awareness, robust digital ID systems, interoperable payment rails, and inclusive policy frameworks, stakeholders can expand access to financial services, particularly in underserved regions, and reduce the global unbanked population significantly.

Stakeholders who gathered at the Regtech Conference 2025 discussed these strategies and more, especially facilitating cross-border payments and investment opportunities across Africa.

The event featured a thought-provoking panel discussion moderated by Uche Uzoebo, the Chief Executive Officer (CEO) of Shared Agent Network Expansion Facilities (SANEF) Limited.

The panel discussion themed, “From Borders to Bridges: Leveraging Digital Infrastructure to Drive Financial Inclusion through a Multi-Stakeholder Approach”, brought together diverse voices across banking, fintech, policy, and government to explore how digital infrastructure can be annexed to drive financial inclusion.

Uzoebo highlighted how women often face unique challenges in accessing financial services coupled with limited digital literacy and cultural barriers.

She engaged the panelists to discuss targeted interventions aimed at promoting gender inclusivity in the financial sector and effective financial education programs that empower individuals to utilize digital financial services.

Jacqueline Mpare, Head of Agency Banking, Ecobank Group, highlighted how her organization had established a women-focused initiative to provide support to businesses targeted at women and those with women as part of the leadership by providing them with access to finance and non-financial support.

Isa Aliyushata, Regional Advisor, Africa, Corum Group Limited, stressed the need to inculcate financial literacy into the education curriculum to ensure everyone is exposed to the knowledge of financial literacy from a young age.

The panelists include Ajibade Laolu-Adewale, Chief Partnership & Ecosystems Officer, Wema Bank; Gerald Munyaradzi Nyakwawa, Head of Digital Channels, MoneyMart Finance (Private) Limited, Zimbabwe; Dr. Henry Clarke Kisembo, Group Global Lead and Executive Chairman, Development Associates Link International (DALI); Jacqueline Mpare, Head of Agency Banking, Ecobank Group; Jean Jacques Kajuga, Chief Operations Officer, RSwitch Rwanda; and Isa Aliyushata, Regional Advisor, Africa, Corum Group Limited.

The panelists emphasized collaboration, leading by example, speed and legislative alignment, a unified infrastructure payment system, and collaboration between national and regional switchers to allow a low-cost cross-border payment as key to ensuring financial inclusion.

Meanwhile, her organization, Shared Agency Network Expansion Facilities (SANEF), was honored with the title of 2025 Financial Literacy Champion at the RegTech Awards. This prestigious recognition highlights SANEF’s steadfast commitment to promoting financial literacy and enhancing financial inclusion across Nigeria. Through strategic partnerships, the expansion of agent networks nationwide, and impactful educational programs, SANEF continues to equip millions with the knowledge and tools to make informed financial decisions.


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