AFEX launches $100m Food Security Fund
Financing will strengthen Africa's food security and optimise climate smart innovations across seven countries
AFEX, Nigeria’s leading commodities market player, has today announced a new $100m 10-year bond called The Food Security Fund (FSF). The financing will strengthen Africa's food security and produce three million MT of food annually on the continent.
AFEX’s fund will support the financing of 250,000 hectares of land for commercial and smallholder farming, initially consisting of 30,000 hectares in the Nigerian states of Kano, Kaduna, Oyo, Ogun, Cross River & the FCT, before covering markets across East and West Africa.
The focus of the The Food Security Fund will be to explore and optimize climate smart innovations and high yield agronomy protocols to ensure more food is pro...