12th August, 2021
Nigeria’s first digital commodities trading platform ComX on Thursday held a webinar aimed at promoting and encouraging the involvement of youths in the Agribusiness space.
The dialogue, held to commemorate the United Nation’s International Youth Day theme, “Transforming Food Systems: Youth Innovation for Human and Planetary Health”, underlined the importance of young Nigerian’s participating in such a global effort.
“We are always saying youths are the future, but now, youths are the now for agriculture”, Oluwayimika Angel Adelaja, Co-Founder/ED We Farm Africa, said during her address, adding that youths only need platforms to leverage on in the digital space.
Aisha Raheem, founder of Farmz2U, an agritech enterprise, said there are many opportunities youths can engage in, stating that youths can take advantage of some platforms to invest.
Until now, ComX has granted investment opportunities to retail and institutional investors that want exposure to alternative assets and investments. At the same time, all of the products traded on ComX are traceable back to the farmers.
The digital trading platform, backed by Nigeria’s leading commodities market player, AFEX, reduces investment risks by providing a simple, easy and informative way of trading and investing in agriculture commodity-backed instruments.
Since its launch in January 2020, the ComX app has grown to have over 25,000 users and now has ten listed commodity-backed instruments for its users. ComX encourages users to invest and trade in agricultural commodity assets using investment vehicles like spots contracts, forward contracts, and Exchange Traded Commodities (ETCs).
At AFEX we harness Africa’s commodities and talent to build shared wealth and prosperity. Our infrastructure and platform investments work to unlock capital to power a trust economy in Africa’s commodities markets.
Since its inception in 2014, we have developed and deployed a viable commodities exchange model for the West African market, and are on track to impact one million producers; providing services in productivity and value capture and access to finance and markets.
By deploying an efficient market system, we will facilitate trade with Africa worth over USD500 million in the next five years.
AFEX’s vision is to be the reference point for commodities in Africa. To achieve this goal, AFEX looks to introduce products that de-risk the sector, drive financial inclusion for rural communities, develop technology for data collection and market access, and enable capital deployment.
ComX is an award-winning digitally enabled marketplace that brings commodities into a financial market environment, enabling ease of transactions and eliminating concerns around storage and other commodity-associated costs.
The ComX platform allows investors to trade and invest in commodity-backed instruments and earn in a variety of ways from the movement of the market dictated by trends and activities in the commodities sector.