#73: AFEX (Africa Exchange) - How the commodities exchange is facilitating commodity trade by offering training, credit, storage to farmers & providing investment solutions to financial partners
Afrobility: Africa Tech and BusinessDecember 31, 202301:55:51185.62 MB

#73: AFEX (Africa Exchange) - How the commodities exchange is facilitating commodity trade by offering training, credit, storage to farmers & providing investment solutions to financial partners

Overview: Today, we’re going to explore AFEX, the African commodities exchange. We’ll discuss the story across the following areas:

  1. African Agriculture context

  2. AFEX's launch & early history

  3. Product & monetization strategy

  4. Competitive positioning & potential exit options

  5. Overall outlook.

This episode was recorded on Dec 24, 2023

Companies discussed: AFEX, EAX (East African Commodity Exchange), Tony Elumelu Foundation, Heirs Holdings, Apollo Agriculture, NCX, Cargill, Louis Dreyfuss, 50 Ventures & Berggruen Charitable Trust

Business concepts discussed: Agriculture technology (AgTech, AgriTech or AgroTech), Agribusiness marketplaces, farming financing, Farmer market access opportunities, Agriculture insurance strategy, Commodity trading & Internal Entrepreneurship (Incubated company strategy).

Conversation highlights:

  • (01:10) - What Afex is and why we’re talking about it

  • (08:36) - Context of agriculture in Africa

  • (21:49) - AFEX Founding story

  • (33:28) - Fundraising

  • (39:56) - Growth, geographical expansion and partnerships

  • (49:42) - Product strategy, monetization and growth

  • (59:14) - Cost structure, revenue and margins

  • (1:10:00) - Business and user metrics

  • (1:13:14) - Competition and options for exit

  • (1:21:02) - Bankole’s overall thoughts and outlook

  • (1:34:25) - Olumide’s overall thoughts and outlook

  • (1:47:45) - Recommendations and small wins



Olumide’s recommendations & small wins:


Bankole’s recommendations & small wins:

Listeners: We’d love to hear from you. Email info@afrobility.com with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com

Investors: It would be great to link up with you. Contact us at info@afrobility.com


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