Proshare and AFEX Form Strategic Partnership to Boost the Nigerian Commodities Market


Friday, February 01, 2019 10:00AM / Proshare Business


Investors are continually seeking alternative avenues to invest their funds. So far in Nigeria’s financial market we have seen the advent of various securities such as equities (listed, unlisted and private), exchange traded funds (ETFs), bonds, treasury bills (T-bills), commercial papers (CPs), currencies, mutual funds, etc. and now commodities. While trading in commodities widens the options available to investors, participation in this market has been very low when compared to other securities.  

Understanding the need to drive increased enlightenment around activities in the commodities market, Proshare - Africa’s Digital Financial Information Hub and AFEX - Nigeria’s only private commodities exchange, today announces its landmark partnership aimed at communicating the activities and developments of AFEX Commodities Exchange towards fostering transparency, education and growth. 

In part fulfillment of imperatives under this partnership, Proshare has developed the AFEX dedicated page within its platform to present news, data and analysis regarding the Commodities market from a single source. In the same vein, AFEX has granted Proshare WebTV (WebTV) access to live digital broadcast of its activities which we will see unfold in the coming months. 

With this partnership, Proshare becomes the first and only information hub in Nigeria which has the major securities exchanges integrated to its platform, following earlier partnerships with NASD and FMDQ in 2016.


Proshare Nigeria Pvt. Ltd.

L-R: Saheed KIARIBE, Head, Research, Proshare; Derin ADEOLA, Product Development Manager, AFEX Commodities Exchange; Ayodeji BALOGUN, Country Manager, AFEX Commodities Exchange, Grace ADEJARE-AJUWON, Chief, Business & Market Officer, Proshare; Akinyinka AKINTUNDE, Business Development Manager, AFEX Commodities Exchange; Teslim SHITTABEY, Managing Editor, Proshare 

While this partnership is poised to encourage further learning and increase the impact AFEX has had within the last four years of its establishment; having created access to markets that boosted the incomes of over 40,000 farmers by up to 40% over the period; investors especially retail investors can now access information from a wide range of investment opportunities. 



Proshare Nigeria Pvt. Ltd. 


Commenting on this partnership, Mr. Akinyinka Akintunde, Business Development Manager, AFEX Commodities Exchange Limited, said, “This partnership is a reflection of our commitment to educate on, and foster a transparent culture for, the commodities market in Nigeria. It is no secret that AFEX considers commodities exchanges as critical drivers of economic development and transformation, and while we are creating a world class commodity exchange that enhances the efficiency and profitability of the country’s agricultural and financial sectors, we are glad to have Proshare as a partner in sharing details of our activities and victories on this journey”.

 Proshare Nigeria Pvt. Ltd.


In addition, Reshu Bagga, Technical Director/Chief Operating Officer of Proshare Nigeria asserted that this move would see Proshare once again fulfill its remit of enlightening, educating and empowering investors through the provision of credible, reliable and timely information relevant for intelligent investing.


Proshare Nigeria Pvt. Ltd.

Visit the AFEX Dedicated Page HERE


Proshare Nigeria Pvt. Ltd.

About AFEX

AFEX Commodities Exchange Limited (AFEX Nigeria) is Nigeria’s first private sector commodity exchange firm. The company was established in 2014 under the aegis of Africa Exchange Holdings Ltd., a limited liability company with principal investors – Berggruen Holdings, LLC, Heirs Holdings, LLC, and 50 Ventures, LLC. 

Since inception, AFEX Nigeria has made great strides in reaching small holder farmers and providing solutions for problems in the country’s agricultural sector through such services as the deployment of storage services, the provision of electronic warehouse receipts, and the facilitation of input financing. AFEX Nigeria has since reached and enhanced the livelihoods of over 100, 000 farmers and aggregated over 100, 000 metric tons of grain with the organization’s overarching strategy of creating a national trading platform and supply chain network in carefully identified value chains through which farmers and commodity merchants can access commodity and financial markets. 


About Proshare

Proshare Nigeria Limited (Proshare), founded in December 2006, is a niche financial information service hub with a key focus on markets, business, technology, regulation, MSME, personal finance and economic development. 

Proshare’s remit is simple: to serve as a critical bridge between investors and markets. Yet the mandate extends beyond providing credible, reliable and timely financial information on a 24 hour loop through an institutionalised network of researchers, analysts, contributors, and content owners; to being the standard bearer for governance practices, fact based intervention, local investment data and market informatics. 

We are organised as a professional practice to provide accountability in our role of opening up the market place by complementing regulators and SRO’s to shape conversations, advocate on key change imperatives, hold the system accountable in a collaborative manner and raise the bar through the way we conduct our engagements. Our goal is to facilitate the information needs of a vibrant, productive and growing African economy. 


Proshare Nigeria Pvt. Ltd.

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Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

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