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AFEX emerges 5th fastest growing company in Africa

by Tolulope Akinruli

On Tuesday, the Financial Times ranked AFEX, Africa’s major commodities market player, as the fifth fastest growing firm on its 2024 Fastest Growing Companies in Africa List. This was mentioned in a statement issued by the AFEX’s Analyst and Public Relations Lead, Anwulika Onwudinjo, where it was announced that the organization’s third straight appearance on the list, after being ranked as Africa’s fastest growing firm in 2023. “AFEX, Africa’s premier commodities market player, today announced that it has been named to the Financial Times (FT) list of Africa’s Fastest-Growing Companies in 2024.

The Financial Times, in collaboration with Statista, recognises Africa’s most exciting businesses through the Fastest Growing Companies ranking, which ranks African companies based on their compound annual growth rate (CAGR) in revenue for 2019. This marks the organization’s third consecutive year on the list, following its ranking as the fastest growing company in Africa in 2023.

According to the statement, since 2019, AFEX has worked across Africa to create an efficient market for commodities. trading and alleviating food insecurity by driving financing from Nigerian capital markets, retail investors.

“The advent of ComX, their digital trading platform, in 2020 reduced obstacles to commodity trading and alternative investments, while also providing transparent financing choices for the currently fragmented agriculture value chain.

“Through innovative financial instruments ike the FETC and Asset Backed Commercia Papers which have historically performed we, AFEX is creating the infrastructure to boost agriculture used production across Africa” , it said.

Meanwhile, Akinyinka Akintunde, President/CEO of AFEX Nigeria, stated, “We are thrilled to be named to the Fastest Growing Companies list for the third year in a row. This year’s submission may be more relevant for us given the severe market conditions that many firms are definitely dealing with.

“This is a testament to the work we have put in over the last few years to guarantee Africa’s food self-sufficiency. This year, we expanded into Cote d’Ivoire. our dedication to our strategic expansion plan, Project Black Panther, which envisions us multiplying In the next decade, we will implement our business model in nine African countries to enhance cross-border trade. continent.”


Today, AFEX has influenced the lives of nearly 500,000 farmers in four countries, while prioritising Making a meaningful and lasting effect in their communities. Finally, AFEX is empowering. Local farming communities, promoting economic opportunities, and contributing to Africa’s The company is prioritising its impact goals to achieve long-term self-sufficiency.

Source: vanguardngr.com

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