International
UK-backed AFEX Celebrates 10 Years of Driving Agricultural Growth and Food Security Across Africa
UK-backed AFEX Celebrates 10 Years of Driving Agricultural Growth and Food Security Across Africa
By: Michael Mike
A leading commodities player in Africa, AFEX, with support from the UK Government, has significant achievements across Nigeria, Kenya, Uganda, and Côte d’Ivoire, as it commemorates its 10th year reshaping the agriculture value chain in Africa, contributing to building sustainable food systems and creating lasting impact for farmers, agribusinesses, and communities.
Through their operations providing capital and storage infrastructure to farmers, processors and other parts of the value chain, AFEX has remained steadfast in its mission to enhance food security, reduce post-harvest losses, and introduce liquidity into agricultural markets through efficient market structures.
Established in 2014 as the first private commodities exchange in Nigeria, AFEX has directly supported smallholder farmers by providing them with access to finance, high-value market opportunities, and crucial extension services. This has not only improved the livelihoods of these farmers but also enhanced their productivity and overall output. Within the same period, AFEX has also grown its presence across the continent, expanding from Nigeria into Kenya, Uganda, and Côte d’Ivoire, and establishing regional commodity markets that facilitate cross-border trade while strengthening food systems throughout these regions.
In Nigeria, AFEX has expanded its farmer network to over 500,000 and traded over 1 million metric tons of essential crops such as maize, rice, sorghum, and soybeans. This trading volume has made a significant contribution to improving food availability and stability in its operational areas. Furthermore, through its financing platform, AFEX has injected over $250 million into agricultural value chains, ensuring that farmers have access to the capital they need to scale their production.
Since expanding into Kenya and Uganda in 2021 and 2022, AFEX has been bullish in the pursuit of their strategic Pan-African expansion goal to penetrate 8 African countries in the next decade, promoting the efficient trade of commodities in Africa while supporting the AFCFTA’s objectives to boost regional trade integration on the continent. Today, its East African operations have impacted over 30,000 farmers through financing and storage services, traded over 12,000 metric tonne and traded about KSH1,600,000,000. In its newest market, Côte d’Ivoire, announced at the beginning of 2024, AFEX has onboarded over a thousand farmers, and disbursed maize inputs across 155 hectares, boosting productivity and food self-sufficiency.
Commenting on the anniversary, the UK’s Deputy High Commissioner in Lagos, Mr. Jonny Baxter, said: “The UK is proud to have provided early-stage funding to AFEX 10 years ago, and to see the company grow with such success, enhancing agricultural productivity and bolstering food security in Nigeria. The agricultural sector stands as a vital pillar to Nigeria’s economy, playing a significant role in job creation and investment potential. We look forward to continuing to support Nigeria’s agriculture sector and the opportunities this provides for its economic growth.”
Group CEO, AFEX, Ayodeji Balogun, reflected on the company’s 10-year journey, stating, “These past 10 years have been about creating innovative solutions for African agriculture and developing sustainable ecosystems that empower farmers. As we mark this milestone on World Food Day, we are reminded that our mission is more critical than ever. Our goal is to continue building the infrastructure and platforms that will secure Africa’s food future.”
Speaking about British International Investment’s $26.5 million commitment to AFEX in 2023, Nigeria Coverage Director of the UK’s development finance institution (DFI), Mr. Benson Adenuga said: “We are delighted to partner with AFEX to provide the necessary support to scale into a pan-African champion, driving agribusiness and strengthening food systems in multiple countries across the continent. Our commitment will support AFEX to construct 20 warehouses in strategic locations in Nigeria, Kenya and Uganda, increasing storage capacity for up to 200,000 farmers and underlining our mandate to support ambitious businesses in Africa”.
A key element of AFEX’s impact lies in its investment in infrastructure. Over the past decade, the company has developed a robust network of more than 200 warehouses across Africa, providing secure storage for agricultural produce and reducing post-harvest losses by up to 30% in some regions. By reducing post-harvest losses and improving productivity, AFEX is playing a critical role in enhancing food security, addressing the challenges of climate change and promoting sustainable agricultural practices across Africa. This commitment mirrors the global call to action on World Food Day to ensure that food systems are inclusive, resilient, and capable of feeding future generations.
AFEX is a platform business that enables efficient trade for commodities in Africa. Solutions start at producer level, ensuring improvement in productivity and livelihoods while building up commodity volumes in the right quality and quantity for local and regional trade.
Operating through three business units, AFEX addresses the challenges faced by smallholder farmers, providing better access to inputs, credit facilities, micro-insurance, storage services, training, and markets. Partnership with different key players across the agricultural value chain – including processors, logistics service providers, financial institutions, and regulatory authorities – makes its goal of supporting Africa’s food security possible.
A range of clients and members also trade physical commodities and commodity contracts through AFEX’s technology platforms, as AFEX continuously bridges the gap between the capital market and the commodities market, thus unlocking finance for production, trade, processing and export of commodities.
International
Venezuela Solidarity Campaign Demands Release of Maduro, Flores
Venezuela Solidarity Campaign Demands Release of Maduro, Flores
By: Michael Mike
The Venezuela Solidarity Campaign in Nigeria (VSCN) has demanded the immediate and unconditional release of Venezuelan President Nicolás Maduro and his wife, Cilia Flores, whom it accused the United States government of detaining illegally.
The campaign, in a statement issued on Friday by its Coordinator, Dimeji Macaulay, said the continued detention of the Venezuelan leaders represented an assault on national sovereignty and international law.
It called on Washington to end what it described as political persecution of Venezuela, abandon its interference in the affairs of sovereign nations and respect the right of the Venezuelan people to determine their political future without external pressure.
The group also condemned the reported expansion of criminal charges against Maduro and Flores, alleging that the US administration was using its judicial system to exert political pressure on governments opposed to its interests.
“We reject the use of military power, economic coercion and politically motivated prosecutions as instruments for determining the political future of Venezuela,” the statement said.
The campaign further demanded an end to economic sanctions against Venezuela and the US economic blockade of Cuba, arguing that the measures imposed hardship on ordinary citizens, including workers, children and vulnerable communities.
It described the restrictions as collective punishment for the political and economic choices of the two countries, insisting that their populations should not suffer because of their governments’ preferred systems of social and economic organisation.
The VSCN expressed solidarity with Cuba, citing its achievements in education, healthcare, international solidarity and social development, and urged Washington to end what it called economic strangulation of the Caribbean nation.
Beyond Venezuela and Cuba, the campaign criticised the global capitalist system, arguing that the concentration of wealth in the hands of billionaires had worsened inequality while millions of people continued to face hunger, homelessness, inadequate healthcare and limited educational opportunities.
It cited the wealth accumulated by billionaires, including Elon Musk, as an example of what it described as an unequal economic order in which a small minority controlled resources generated through the collective labour of millions.
The group called on workers, peasants, students, trade unions, socialist organisations and progressive movements worldwide to unite in pursuit of what it described as a socialist system founded on equality, democracy, solidarity and collective ownership of productive resources.
On Western Sahara, the campaign reaffirmed its support for the Sahrawi people’s right to self-determination, rejecting any attempt to impose Morocco’s autonomy proposal as a substitute for a democratic decision on the territory’s political future.
It called for a free, fair and internationally supervised referendum that would allow the Sahrawi people to choose their future, including independence.
The group noted that Western Sahara remained on the United Nations list of Non-Self-Governing Territories and argued that its people should not be denied the right to determine their political status.
It maintained that self-determination should apply equally to the peoples of Palestine, Western Sahara and Venezuela, as well as other nations facing occupation, domination or foreign interference.
Venezuela Solidarity Campaign Demands Release of Maduro, Flores
International
Nigeria, Japan Move to Set Up Industrial Hub to Unlock Investment
Nigeria, Japan Move to Set Up Industrial Hub to Unlock Investment
…Abuja seeks Japanese capital, technology transfer as Tokyo promises faster visa processing
By: Michael Mike
Nigeria is seeking to establish a joint industrial and investment hub with Japan to attract foreign capital, accelerate technology transfer and position local businesses to tap into Japanese supply chains and the wider African market.
The proposal, put forward by the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, signals Nigeria’s push to turn 66 years of diplomatic relations with Japan into a stronger economic partnership driven by investment, industrialisation and job creation.
Odumegwu-Ojukwu made the proposal during a bilateral meeting with Japan’s Ambassador to Nigeria, Suzuki Hideo, urging Tokyo to work with Nigeria on a practical roadmap for the proposed Nigeria–Japan Industrial and Investment Hub.
The initiative is expected to facilitate joint ventures, connect investors with credible Nigerian businesses, promote skills development and encourage Japanese companies to establish stronger industrial links with Africa’s largest economy.
The minister stressed that existing bilateral agreements must translate into concrete investment commitments and measurable development outcomes, rather than remain diplomatic declarations.
“The outcomes of the Forum must be translated into concrete programmes, investment commitments and measurable development outcomes,” she said.
She urged both countries to implement the agreements reached at the 10th Nigeria–Japan Special Partnership Forum, held in Abuja on August 27, through practical programmes and regular consultations between their foreign ministries.
To strengthen private-sector participation, Odumegwu-Ojukwu called for more partnerships between Nigerian and Japanese companies through joint ventures, local content development, skills transfer and the integration of Nigerian businesses into Japanese supply chains.
She also sought greater engagement by the Japan External Trade Organization (JETRO) to link Japanese investors with Nigerian enterprises and public-sector partners.
Beyond manufacturing and trade, Nigeria is seeking Japanese investment in solid minerals, gas development, cleaner energy technologies and industrial decarbonisation, with the minister highlighting the strategic importance of resilient energy and critical-mineral supply chains.
The proposed investment push comes alongside Japan’s development cooperation in infrastructure, healthcare, agriculture, education and technical training through the Japan International Cooperation Agency (JICA).
Odumegwu-Ojukwu welcomed a $10 million JICA-supported initiative to strengthen Nigeria’s startup ecosystem through catalytic capital and institutional development, in partnership with the Nigeria Sovereign Investment Authority.
She also called for sustained Japanese support for peacebuilding, humanitarian assistance and stabilisation in Nigeria and West Africa, reaffirming Nigeria’s commitment to regional stability through the African Union and the Economic Community of West African States.
On mobility and business exchanges, the minister urged continued dialogue to resolve visa-related challenges affecting businesspeople, students, researchers, government officials and tourists.
Responding, Suzuki said Japan was desirous of deepening cooperation with Nigeria, which he described as a strategic African giant.
He also assured that visa-related issues would be handled expeditiously, an undertaking that could help facilitate business and people-to-people exchanges between the two countries.
Odumegwu-Ojukwu said the existing cordial relations between Nigeria and Japan offered an opportunity to build a more dynamic partnership anchored on investment, industrialisation, technology transfer and shared prosperity.
The renewed engagement comes as both countries seek to move beyond decades of diplomatic relations towards stronger commercial ties, with the proposed industrial hub emerging as a potential platform for converting bilateral goodwill into investments and economic opportunities.
Nigeria, Japan Move to Set Up Industrial Hub to Unlock Investment
International
Cuba Accuses US of Pressuring Nations Ahead of UN Vote on Blockade
Cuba Accuses US of Pressuring Nations Ahead of UN Vote on Blockade
By: Michael Mike
Cuba has accused the United States of mounting a campaign of diplomatic pressure against countries supporting calls for an end to its decades-long economic blockade, alleging that Washington is seeking to influence the outcome of an impending United Nations General Assembly vote.
Cuba’s Permanent Representative to the United Nations, Ernesto Soberón Guzmán, made the allegation on Friday while condemning a US-organised event scheduled for October 19 at the UN headquarters in New York, which he described as an attempt to divert international attention from the debate on the blockade.
The Cuban diplomat alleged that the event, titled “Cuba Libre”, was part of a broader effort to weaken support for a Cuban-sponsored resolution calling for an end to the economic, commercial and financial restrictions imposed by Washington. The resolution is scheduled for consideration by the General Assembly on October 27 and 28.
Speaking to UN-accredited journalists, Soberón accused the US of using political and diplomatic pressure to influence the positions of member states ahead of the vote, including alleged direct appeals by Secretary of State Marco Rubio to heads of state and government.
He described the reported contacts as an attempt to interfere with the sovereign decisions of UN member states, insisting that countries should be allowed to determine their voting positions without intimidation.
The diplomat also questioned the format of the October 19 event, citing restrictions on press access, the non-disclosure of panellists’ identities and a prohibition on attendees expressing their views.
He argued that the arrangements suggested an attempt to control the narrative rather than facilitate an open exchange of perspectives on Cuba.
Soberón said the Cuban delegation had obtained copies of the invitation and concept note despite not being invited to the event.
He further questioned the use of UN premises for an activity he alleged was designed to advance Washington’s political objectives against another member state, citing administrative instruction ST/AI/2019/4 on the use of UN premises and the need for activities to comply with the principles of the UN Charter.
The Cuban representative also accused Washington of applying a double standard by organising the event while having outstanding contributions to the UN’s regular budget.
Beyond the diplomatic dispute, Soberón drew attention to the economic consequences of US sanctions, particularly measures affecting Cuba’s fuel supplies and international trade.
He recalled that US President Donald Trump signed an executive order on January 29, 2026, introducing measures targeting countries supplying oil to Cuba, which he blamed for a sharp decline in fuel shipments to the island.
According to figures he presented, Cuba had received only one oil tanker from Russia in the preceding 10 months, describing the shipment as humanitarian assistance.
He also claimed that approximately 7,000 containers destined for Cuba remained at international ports because shipping companies were reluctant to transport them over fears of possible US sanctions.
Soberón linked the difficulties to further measures announced by Washington on May 1, 2026, which he said expanded the threat of sanctions against companies and countries maintaining commercial relations with Cuba.
He criticised the US-organised event for failing to address the reported impact of the restrictions on the Cuban economy and the living conditions of its population.
The Cuban government has consistently opposed the US embargo, which has remained a major point of contention between the two countries and has repeatedly featured in General Assembly debates.
Soberón maintained that the October 19 event should not distract the international community from the substantive question before the General Assembly: whether the United States should end its economic, commercial and financial blockade of Cuba.
He urged UN member states to uphold the principles of the UN Charter, resist political coercion and exercise their voting rights independently.
The United States has historically defended its Cuba policy on grounds including concerns over the island’s political system and human rights record, while Havana argues that the sanctions violate its sovereignty and impose severe economic hardship on its people.
The forthcoming General Assembly debate is expected to renew international scrutiny of the longstanding dispute.
Reaffirming Havana’s position, Soberón said Cuba would not change its stance because of external pressure, adding: “Cuba is not a threat. The blockade is.”
Cuba Accuses US of Pressuring Nations Ahead of UN Vote on Blockade
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