#CodeCashCrop: AFEX leads discourse on Agric, Finance and Tech Convergence

Proshare

Thursday, March 01, 2018 7.00PM / Proshare WebTV 

AFEX Nigeria’s pioneer commodities exchange as part of its commitment to driving the Agric sector in the country, today hosted a discourse on the #CodeCashCrop initiative. 

The initiative was an opportunity for stakeholders in the Agro, finance and technology space to synergize efforts in building a vibrant and dynamic Agri-business space in Nigeria. 

Giving his opening remarks the CEO of AFEX Mr Deji Balogun said the forum was designed to set an agenda for the Agric industry, that forges an innovative and value-driven process that attracts financing and adopts cutting edge technology. 

He believed collaboration was key to nurturing a robust and competitive Agri-business sector in Nigeria. 

In the opening panel session for the event, Mr Akinyinka Akintunde the Business Development Manager for AFEX Nigeria, shared that the exchange was bridging the gap between smallholder farmers and investors. 

According to Mr Akintunde “AFEX is regulated by the Securities Exchange Commission of Nigeria and we provide the asset class for investors in the Agro space”. 

Speaking further he said AFEX connects people to structured agro markets, with end-to-end linkage from producers to suppliers. 

Adlene Fabre a Partner with Choiseful Africa Capital in her contribution, noted that investors were looking at tech-enabled solutions for food security in Sub-Saharan Africa. 

She stressed that companies and businesses involved with Data management, were the key attractions for investments in Agric sector. 

Co-Founder and CEO of Farmcrowdy Mr Onyeka Akumah giving a pragmatic approach of its Agri-Tech platform’s activities said it has been connecting small scale farmers with sponsors. 

Mr Akumah asserted that over 2,000 small scale farmers have been engaged and connected by Farmcrowdy to Sponsors, in the country. 

“At the moment, we have operated across 8 states in Nigeria customizing global solutions for the farmers” Akumah said. 

The CEO of Nigeria’s leading technology blog Techcabal Bankole Oluwafemi in his intervention called for investments in infrastructure, that will boost the Agro sector in Nigeria. He said Agri-tech had been prominent in Africa, through Kenya since 2010. 

He harped on the need for Agri-tech courses in colleges and the rebranding of Agriculture as a career, that should be attractive to young people in Nigeria, from Agri-business to other parts of the value chain. 

The #CodeCashCrop discourse was attended by critical stakeholders in Agric finance and Agric technology solutions, International financial institutions, Private equity firms, Venture Capitalists as well as various corporates, entrepreneurs and startups in Agri-business. 

It also featured breakout sessions that allowed industry players to exchange ideas and address critical issues like finance, agric insurance, production, technology solutions and possible partnerships. 

AFEX partnered with Darlberg, Co-Creation Hub and the Nigerian Incentive Based Risk Sharing System for Agricultural Lending(NIRSAL) to host the forum.


Proshare Nigeria Pvt. Ltd.

 

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