General News
AFEX Expands Operations to Uganda, Appoints Group CEO Others
AFEX, Africa’s leading commodities exchange and commodities market player, has announced its expansion into Uganda, seven months after it first entered the East African continent. Similar to Kenya and Nigeria, farmers in Uganda will benefit from AFEX’s revolutionary tech-enabled services for agricultural producers.
In its first year of operations, AFEX Uganda aims to reach 10,000 farmers and aggregate 15,000 metric tons of commodities, while extending its aggregation, storage, and financial inclusion services to Ugandan farmers and processors.
Continuing its pan-African expansion plans, AFEX will be implementing its scalable model that combines advanced technology and infrastructure with a unique understanding of Africa’s food systems and local markets to replicate its successes in Nigeria and Kenya to Uganda.
Working closely with local and international partners, the operation will focus on maize, sorghum, soybeans, barley, and coffee, with maize being the initial priority.
According to the International Trade Administration, Uganda is lacking the necessary infrastructure in storage, credit, and access to markets to sustain food production. To begin tackling these issues, AFEX Uganda has established warehouses in Bulambuli and Kapchorwa districts in Eastern Uganda, and in the Lira district of Northern Uganda.
Under the leadership of Abdul-Hafeez Odusanya, Managing Director, AFEX Uganda, AFEX will be introducing its range of solutions including its technology platform, WorkBench, to enable farmers to participate in market opportunities and scale their operations.
Starting with a network of over 1500 farmers, AFEX Uganda will be addressing the following problems:
- Reducing post-harvest losses by providing storage facilities
- Providing access to loans for farmers to purchase quality farming inputs including agrochemicals, fertiliser, and seedlings
- Provision of advisory and extension services to tackle poor agricultural practices and post-harvest handling practices.
- Access to markets for smallholder farmers, with transparent prices
- High quality and traceable supply of food and feed grade commodities to processors
Abdul-Hafeez Odusanya, Managing Director, AFEX Uganda expressed excitement about the new opportunity: “I’m thrilled to be leading the next stage of growth for AFEX in East Africa and eager to see how Uganda’s success contributes to AFEX’s portfolio of innovative food system interventions.
I’m confident AFEX Uganda will contribute massively to building an inclusive and efficient market system, giving Ugandan farmers the support and infrastructure they need to improve efficiency and access bigger markets,” he revealed.
Often referred to as Africa’s ‘bread basket,’ Uganda has one of the most dynamic commodities markets in Africa with a significant potential for growth, and a positive government interest in commercialising agriculture through collaboration with private sector players.
In the first quarter of 2022, agriculture accounted for 24% of the country’s GDP. In addition, the government has ratified the African Continental Free Trade Area (AFCTA) and the East African Community Customs Union which provides access to the international market.
Since inception, AFEX’s focus has been to establish a strong foothold across Africa, and AFEX Uganda is the latest in a series of planned expansion to 10 African countries over the next 5 years. In restructuring for the future and to provide efficiency and focus on the regions, AFEX has announced new appointments and internal promotions among its leadership.
Appointed in October 2022, Sanne Steemers is now President, Rest of Africa, overseeing the expansion across the continent; Akinyinka David Akintunde (previously Chief Operating Officer) has become President, AFEX Nigeria, responsible for all operations in the West African country; and CEO Ayodeji Balogun has been appointed Group CEO, heading all entities globally.
Speaking of her new responsibilities, Sanne Steemers said: ”With twenty years’ experience working at the intersection of global supply chains, finance and agricultural commodities, I’m very excited to be joining AFEX as we expand into yet another market, and look forward to driving the expansion across the rest of Africa.
“In just a few years, AFEX has achieved exemplary success in Nigeria and Kenya, I’m looking forward to adapting these winning strategies, services and approach to service farmers, processors and partners in Uganda and beyond.”
National Identity Management Commission (NIMC), has explained why kidnappers and terrorists are not always traceable despite the country’s expanding digital identity infrastructure.
NIMC explanation pointed to a simple but significant gap in the system.
Abisoye Coker-Odusote, director-general of the agency said that: “A lot of the time, you find out the kidnappers use the phones of the people they have abducted, which means how do you trace them because they are not using their own phones?” she said.
Coker-Odusote spoke during an appearance on Channels Television, where she was asked to explain why criminals remain difficult to trace despite the mandatory NIN-SIM linkage policy.
She said criminals frequently frustrate investigations by using mobile phones belonging to their victims, instead of their own registered lines.
“We already know the NIN is the foundational identity for the security architecture, but a lot of the time, you find out the kidnappers use the phones of the people they have abducted. Which means, how do you trace them because they are not using their own phones?” she said.
She also suggested that some criminal elements involved in kidnapping operations may not even be captured in Nigeria’s identity database.
“There is a theory that it may be possible that these kidnappers are not Nigerians and are brought into the country 48 or 72 hours before a kidnapping takes place specifically for that purpose. I’m not insinuating anything, but if that were the case, they naturally would not be captured in our database,” she added.
The comments have revived questions about whether expectations placed on the NIN-SIM linkage have exceeded what the system was designed to deliver.
The NIN-SIM linkage exercise was introduced by the Nigerian Communications Commission (NCC) in collaboration with NIMC to strengthen identity management, eliminate anonymous SIM ownership and support national security.
Over the years, the exercise resulted in millions of subscribers linking their SIM cards with their National Identification Numbers, while telecom operators also deactivated millions of lines that failed to comply with regulatory directives.
Earlier, the NCC maintained that the policy was aimed at improving the integrity of Nigeria’s SIM registration database, strengthening identity verification and supporting security agencies in criminal investigations.
The regulator also described the exercise as an important component of the country’s digital economy and national security framework.
Telecommunications operators have consistently maintained that while they play a critical role in implementing the NIN-SIM linkage policy, they are not responsible for tracking criminals.
Quest Merchant Bank recently hosted the second edition of the Great Place to Work® Nigeria Study Mission, reaffirming its commitment to fostering a high-performance workplace culture and advancing people-centric leadership practices.
The Study Mission serves as a collaborative learning platform that brings together Great Place to Work® Certified organizations to exchange insights, share best practices, and strengthen workplace cultures.
The event welcomed Human Resources leaders and representatives from FITC, Princeps Credit Systems, Tonic Technologies and Esentry Limited for an engaging and insightful session focused on building thriving workplace cultures, promoting continuous learning, and advancing employee-centric practices that drive organizational success.
Speaking at the event, Tolulope Dayo-Peters, Head of People Management, emphasized the importance of continuous learning and collaboration in building sustainable workplace cultures.
“We are delighted to host the second edition of the Great Place to Work® Nigeria Study Mission. At Quest Merchant Bank, we believe building a great workplace is an ongoing journey rooted in trust, purposeful leadership, and a genuine commitment to our people.
“We are pleased to share the practices that have shaped our culture and look forward to more opportunities to learn and collaborate with like-minded organizations.”
Also speaking at the event, Afolabi Olorode, Acting Managing Director/CEO, Quest Merchant Bank Limited, highlighted the critical role workplace culture plays in driving long-term business success.
“We recognize that a strong workplace culture is fundamental to sustainable business success. Creating an environment where our people are empowered to grow, innovate, and perform at their best enables us to consistently deliver value to our clients and stakeholders. We are proud to support initiatives like the Great Place to Work® Nigeria Study Mission that encourage organizations to learn from one another and collectively raise the standard of workplace excellence in Nigeria.”
The Study Mission reinforced the importance of collaboration among organizations committed to creating exceptional employee experiences.
By providing a platform for open dialogue, peer learning, and the exchange of practical ideas, the initiative enabled participants to explore innovative approaches to employee engagement, organizational culture, leadership development, and talent management while strengthening a growing community of employers dedicated to workplace excellence.
Hosting the Great Place to Work® Nigeria Study Mission further strengthens Quest Merchant Bank’s position as a thought leader in workplace culture and talent management.
It also enhances the Bank’s employer brand and demonstrates its unwavering commitment to creating an environment where employees can grow, innovate, and achieve their full potential.
Quest Merchant Bank remains committed to championing initiatives that promote learning, innovation, and people-centric leadership. Through strategic partnerships and knowledge-sharing platforms such as the Great Place to Work® Nigeria Study Mission, the Bank continues to contribute to the advancement of exceptional workplace cultures and the future of work across Nigeria’s corporate landscape.
Nigeria Hydrological Service Agency (NIHSA) has warned of possible floods in parts of Adamawa, Bauchi, Edo, Imo, Enugu, Akwa Ibom, Cross River, Kaduna, Plateau, Niger, Benue, and Borno states within the next seven days.
According to information posted on NIHSA X handle, the Agency announced medium flood advisory in force for the next 7 days across Adamawa, Bauchi, and 11 other States.
“Localised inundation is forecast along the main channel; named communities below sit on the projected footprint. Stations: Saminara on the Karam river, Waya Dam Site on the Waya river, Amber on the Amber river.
“Adamawa; Lemsa, Lamurde, Numan Exposure: 147 comm. 49 schis 40 hith 6 mkts17 relig. Bauchi-Bauchi, Ningi, Shira. Exposure: 4 comm. Kaduna; Chikun, Giwa, Igabi, Jaba, Jema’a, Kachia, Kaura, Kauru, +6 more. Exposure: 1 comm.
“Borno-Gubio, Mobbar. Exposure: 680 comm. 8 schls 6 hith 5 mkts 21 relig. Edo-Akoko-Ed, EtsakoEa, EtsakoWe, Ikpoba-Okha, Orhionmw, OviaNort, OviaSo.. Exposure: 3 comm.
“Imo-Aboh-Mba, Oguta, Ohaji/Eg, Okigwe, Owerri North, Owerri West. Exposure: 3 comm. 7 more states affected and severity LGAs”.
NIHSA advised people in the affected areas to “do NOT cross flooded roads, bridges, or fast-moving water on foot or by vehicle.
“Clear drainage channels and river-mouth blockages; avoid building or living in the floodplain and move people, livestock and valuables from the floodplain to pre-identified higher ground,” NIHSA stated.
NBC Scraps Annual Digital Access Fee on DSO
Surge in Fibre Cuts Hobbles Service Provisioning
Why Bandits, Kidnappers are Hard to Trace despite NIN-SIM Linkage – FG
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
Quest Merchant Bank Hosts Great Place to Work® Nigeria Study Mission
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Telecom2 days agoMTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
E-Financial2 days agoNigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
E-Financial2 days agoFlutterwave Partners Xoom on Transfers into Nigeria
General News2 days agoNearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
News2 days agoDataPro Upgrades Dangote Cement’s Credit Rating to AA+
Telecom2 days agoNokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
E-Business2 days agoTinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG
General News2 days agoFintech Brands Should Communicate Right in a VUCA Economy