AFEX launches commodity-backed instrument to act as funding bridge in agriculture industry

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AFEX launches commodity-backed instrument to act as funding bridge in agriculture industry
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AFEX Commodities Exchange Limited, a leading private commodities exchange company in Nigeria, has announced a financing deal featuring tech-enabled operations, a 24-hour fast cash turnaround for borrowers and uses commodity as security.

This will be made possible through its Warehouse Receipt Backed Commercial Paper, the first in Africa, aimed to bridge the funding gap between lenders and borrowers in the Nigerian agricultural sector.

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