Experts canvass finance to unlock $1trn commodity market

Stakeholders from the financial and capital markets as well as the manufacturing industry have canvassed for finance to unlock the $1 trillion commodity market and hedge against creeping inflationary pressures.

They spoke in Lagos during the second edition of the AFEX CEO Breakfast Session. They noted that commodity investment will serve as the vehicle to bolster Africa’s regional food supply chains.

Managing Director of Sahel Capital, Mezuo Nwuneli stressed the importance of unlocking finance for the $1 trillion commodity market.

He said, “Food inflation and global trends point to the need to build resilient food supply chain systems, and commodity investment serves as the vehicle to bolster Africa’s regional supply chains. By leveraging private sector and foreign investments, we can unlock value for the agriculture value chain and hedge against creeping inflationary pressures.”

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President/CEO AFEX Nigeria, Akinyinka Akintunde, said the company has updated pricing methodology for its commodities exchange business unit.

“We have launched initiatives to strengthen data availability and accessibility for the commodities market in the country over our years of operation.”

The AFEX market turnover currently stands at $300 million, with more education drives planned to serve as a catalyst for the continued development of the commodities market ecosystem in Nigeria.