A key goal for AFEX since we launched ComX in January has been introducing some innovative financial products/ instruments that are backed by physical commodities distributed across AFEX’s warehouses and other third-party partner warehouses. There are six key commodities currently traded on ComX (Maize, Soybean, Sorghum, Paddy Rice, Ginger and Cocoa) available for trading and investing under a variety of product classes. Our current product classes, which include Spot Contracts, Forward Contracts and Fixed Income Products (Input Note and Trade Finance Note), reflect various options for investing against assets that have commodities as the back bone
We recently closed an investment round on one of our Fixed Income Products, the Input Note, which is essentially a short term discount instrument that offers a dual purpose of providing returns to investors while helping to finance food production.
With that and across our other product classes on ComX, we are continuing to provide the double benefit of enabling a new set of wealth creators diversify their portfolio with commodity backed assets while unlocking finance for a sector necessary for a food secure Nigeria
The Exchange continues to carry out some necessary activities tied to our vision of helping Africa feed itself. Here are some of the things we were up to in June:
- We continued our Input Financing Programme, covering more communities and reaching more farmers across the country. Watch some documentaries on the programme here.
- We shared a couple of insights on various webinars covering recovery and resilience of businesses in the face Covid-19, funding and opportunities in agriculture and growth through collaboration.
- We had the first episode of the Xtra Conversation Series on Designing Experiences for a Virtual World. Watch the episode recording here.
- Visit ComX Here
Episode two of the Xtra Conversation Series
In July we’ll be hosting the 2nd episode of our Xtra Conversation Series on the topic “Storyselling for Financial Products”.
Just like the first episode, the webinar is targeted at growth-minded individuals looking to survive the present and plan for the future. You can register to join us here