AFEX, a prominent player in Nigeria’s commodities market, has officially inked a Memorandum of Understanding (MoU) with Kano State Investment and Properties Limited (KSIP). The signing ceremony took place at the AFEX Abuja office, signaling a commitment to collaboration and partnership aimed at fostering the development and growth of the commodity sector within Kano State.
The partners emphasized that the MoU underscores AFEX and KSIP’s dedication to propelling growth in the commodities sector and, more broadly, the agricultural landscape in Nigeria. Speaking about the partnership, Auwalu Muktari, the Managing Director of Kano State Investment and Properties Limited, stated, “A core focus for us at KSIP has always been securing wealth for the people of Kano State. This partnership with AFEX sets a precedence to revive the agriculture sector, leveraging adequate human and capital resources to enhance economic productivity and generate value for the state.”
Group CEO of AFEX, Ayodeji Balogun, expressed delight at the collaboration, stating, “We are delighted at the opportunity to collaborate with the Kano State Investment and Properties Limited to increase efficiency and innovation across the commodity value chain in Nigeria.” Balogun highlighted the exchange model that AFEX will deploy during the project, providing a centralized platform for farmers, aggregators, and processors to engage in transparent and efficient trading. This approach aims to improve fair pricing across the value chain and unlock significant capital for the project’s success.
