AFEX, Proshare partner to strengthen commodities market

                                                                      Photo credit: Proshare

In increasing enlightenment around activities in the Nigeria commodities market, Proshare, Africa’s Digital Financial Information Hub and AFEX, Nigeria’s only private commodities exchange, formed a partnership aimed at communicating the activities and developments of AFEX Commodities Exchange towards fostering transparency, education and growth.
Investors are continually seeking alternative avenues to invest their funds. Trading in commodities will widens the options available to investors, participation in this market has been very low when compared to other securities.
In part fulfillment of imperatives under this partnership, Proshare has developed the AFEX dedicated page within its platform to present news, data and analysis regarding the commodities market from a single source. In the same vein, AFEX has granted Proshare WebTV (WebTV) access to live digital broadcast of its activities which we will see unfold in the coming months.
With this partnership, Proshare becomes the first and only information hub in Nigeria which has the major securities exchanges integrated to its platform, following earlier partnerships with NASD and FMDQ in 2016.
While this partnership is poised to encourage further learning and increase the impact AFEX has had within the last four years of its establishment; having created access to markets that boosted the incomes of over 40,000 farmers by up to 40 per cent over the period; investors especially retail investors can now access information from a wide range of investment opportunities.
Speaking to media, at the weekend in Lagos, the country manager of AFEX Commodities Exchange, Mr. Ayodeji Balogun said “this is strategic is coming at the right time and at the time when we have spent four years building the agricultural infrastructure that can enhance the commodities exchange. We are now positioned to roll out a number of financial instrument for the commodities market.”
He noted that the market is structured to protect the investors in ensuing that there is price transparency in all the instruments to the benefit of investors and the producers.
Business Development manager, AFEX Commodities Exchange, Mr. Akinyinka Akintunde said, “this partnership is a reflection of our commitment to educate on, and foster a transparent culture for, the commodities market in Nigeria.
“It is no secret that AFEX considers commodities exchanges as critical drivers of economic development and transformation, and while we are creating a world class commodity exchange that enhances the efficiency and profitability of the country’s agricultural and financial sectors, we are glad to have Proshare as a partner in sharing details of our activities and victories on this journey.”
Technical director/chief operating officer of Proshare Nigeria, Reshu Bagga, asserted that this move would see Proshare once again fulfill its remit of enlightening, educating and empowering investors through the provision of credible, reliable and timely information relevant for intelligent investing.