General News
AFEX Launches 100,000MT/ year Grain Quality Enhancement Centre to Mark World Food Day

AFEX, Africa’s leading private commodities market player, on Friday, marked World Food Day 2022, with the launch of a new 100,000MT/ year Grain Quality Enhancement Centre and 30,000 MT storage capacity warehouse at Zaria-Kano Highway, Kaduna, Nigeria.
The plant represents AFEX’s renewed commitment to infrastructure investments that cut post-harvest losses, strengthen quality and standardisation criteria in grain value chains, and improve the livelihoods of primary producers who are able to earn higher income on better quality grains.
The plant, which has an annual capacity of 100,000MT, meets the challenges of grain quality enhancement through cleaning, grinding, heating, drying, packaging, and storage services for maize, paddy rice, and soybean.
“Over the years, we have seen a growing demand for grain commodities in the animal feed, food, and drink industries. However, 3.5 trillion naira (circa US$8 billion) is lost annually after harvest because the national storage capacity can only accommodate 5 to 7 percent of agricultural produce.
At AFEX, we believe that the grain quality enhancement centre will help meet that demand, support the closure of quality and quantity gaps, maximise income returns for smallholder farmers, and increase access to markets that will benefit key players in the value chain and society at large.
The activities in the processing plant will include quality and quantity checks, packaging, storage, and other processes in the value chain,” said Ayodeji Balogun, AFEX CEO.
In 2021, AFEX expanded into East Africa to replicate its early successes in Nigeria and to enable seamless access to pan-African commodities trading across Africa while bolstering its food security.
It followed with a $1 million loan program in July this year, to provide Kenyan farmers with access to crop seed and fertiliser, allowing them to mitigate rising commodity prices.
Just like every other effort, this historic milestone on World Food Day in Nigeria aligns with the United Nations SDG goals 1, 2 5, 8 and 12 as AFEX continues to work towards resilience and sustainability of the agricultural supply chain to alleviate poverty by ensuring that farmers and growers get a better deal for their produce, everyone has access to affordable and nutritious food, and that no one is left behind.
The 100,000 MT/ year Grain Quality Enhancement Centre is a product of AFEX’ partnership with the Kaduna State Government of Nigeria and the USAID-Funded West Africa Trade & Investment Hub.
Speaking on the commissioning of the AFEX Grain Quality Enhancement Centre, His Excellency, the Governor of Kaduna State, Mallam Nasiru el-Rufai said “I am happy to see this new development in the agricultural value chain.
Oftentimes, when farmers harvest their produce, they sell quickly at low prices to prevent post-harvest loss and in return, they never get the best value.
With this centre, AFEX has closed the gap in preparation, cleaning, and logistics, helping farmers to sell at the right price.
“I am grateful to all the partners behind AFEX, USAID-Funded West Africa Trade & Investment Hub, AGRA, for collaborating on this project and enhancing access to a structured and ready market for farmers and job creation for Nigerian youths,” he concluded.
All around the world, excessive post- harvest losses impact negatively on food security. To alleviate the problem In Nigeria, this new facility will strengthen food supply chains, boost grain prices for producers and serve as a reliable source for processed grain meal and hulls in the growing markets whilst bolstering food production in the country.
Essentially, by depositing commodities in the warehouse, farmers will be able to pay for the processing services and have access to buyers on the AFEX platform at a higher price.
Since 2014, AFEX has built a robust network of warehouses to support the growth of agricultural commodities and provide offtake agreements to farmers at market prices with a same-day payment model. Currently, in Nigeria alone, AFEX has a footprint of over 100 warehouses across 23 grain-producing states which accounts for over 300,000 MT of the total national storage capacity. They have reached over 430,000 farmers and traded over 1 million MT of commodities to transform rural households and boost economic prosperity.
With more efficient pricing mechanisms and transparent, fair distribution fees, agricultural producers working with AFEX benefit from significant – and often life-changing – savings on taxes, charges, transportation costs, and better storage/disruption.
General News
PalmPay’s Bold Move For Social Impact in Northern Nigeria

In the busy Fagge Market in Kano, Zahra Bello, a middle-aged entrepreneur who runs a fabric store, speaks about her experience with mobile banking and how this has simplified business transactions and improved her small business.
Behind the growth of these resilient women entrepreneurs lies a story of transformation powered by technology.
“My name is Zahra Bello, I’m from Dambatta in Kano State, and I’m a fabric trader. I first heard about PalmPay from my elder brother in March 2024. He told me how he used the PalmPay Target Savings feature to buy new machinery for his farm and even earned interest. That inspired me to try it too.”
Zahra downloaded the PalmPay app that very day. By December, she’d used the Target Savings plan to restock her shop with new fabrics, an achievement she never thought possible within such a short period. “I was so happy,” she smiles. “The interest I earned on my savings motivated me to save more. PalmPay has become my savings box. I use it for all my transactions now.”
Her story, like many others, is the inspiration for PalmPay’s evolving vision of inclusive banking in Nigeria’s underserved communities.
Women, SMEs, and Technology
Financial exclusion remains a critical challenge in Northern Nigeria. According to EFInA’s 2023 Access to Financial Services survey, an estimated 28.8 million adults in the North are excluded from the formal financial system, with exclusion rates as high as 47% in the Northwest.
Among women, especially those in rural areas, the figures are even more concerning, as these numbers represent the daily reality of millions of women who run informal businesses and contribute to household income without access to banking, credit, or digital tools.
PalmPay’s initiative addresses this gap directly. 5,000 female entrepreneurs in Kano and Kaduna will receive hands-on financial literacy training on mobile payments and their shops are rebranded with signages, aprons, and other kits that will enhance visibility for their businesses.
“I used to write down every sale in a notebook. Now I track everything with my PalmPay account,” says Rabi Abdullahi, a trader in Kano. “Customers trust me more now that I have a business name and branded store.”
PalmPay has done its due diligence to understand the challenges and has offered a tailored approach to solving these issues which includes this social impact initiative.
Social Impact and Strategic Growth
With over 35 million users in Nigeria, the company is keen to expand in regions where smartphone adoption is rising but digital finance penetration remains low.
Femi Hanson, Head of Marketing and Communications, explains: “We see this as long-term ecosystem building. When you give small business owners the tools to grow, you don’t just gain users, you build loyalty, trust, and sustainable impact.” This also aligns with Nigeria’s Financial Inclusion Strategy goal to reach 95% inclusion by 2025, a benchmark that can’t be reached without focused efforts in the North.
The project has earned the support of traditional leaders, most notably His Royal Highness, the Emir of Kano, Dr. Muhammadu Sanusi II, who praised the initiative and called for greater collaboration between the private sector and community stakeholders.
With the success of this initiative, PalmPay has continued to expand its solutions in these regions offering support to even more women.
In Northern Nigeria, where the need is great and the gap wide, PalmPay is proving that true impact goes beyond offering products to providing support and meeting the needs of its users at the grassroots.
General News
Moniepoint Demonstrates Commitment to Nurturing Africa’s Future Leaders

Moniepoint Inc, one of Africa’s leading financial institutions partnered with the Mega Impact Foundation to support the 5th edition of the NextGen Connect Interschool Oratory Competition in Asaba, Delta state. This collaboration showcases Moniepoint’s unwavering commitment to youth empowerment and human capital development across the African continent.
The competition, which was held commemoratively to celebrate this year’s International Day of the Boy Child, brought together SS2 students from across Delta State to address the critical theme: “The Role of Financial Inclusion and Technology in Shaping a Brighter Future for Young People in Africa.” Moniepont has received critical acclaim over its core mission of advancing financial inclusion through innovative digital financial technology solutions and payment services..
The oratory competition showcased exceptional talent among Nigeria’s youth, with Otovo Praise of Crystalloid International School emerging as the champion.
His outstanding performance earned him a full-year scholarship through the Tosin Eniolorunda STEM Foundation, reflecting Moniepoint’s philosophy of investing in educational excellence. Second-place winner Audi Innocent of St Patrick’s College received ₦300,000, while third-place winner, Asher David of Glorious Kids Academy was awarded ₦200,000.
“At Moniepoint, we believe that driving sustainable innovation begins with future-proofing and expanding the talent pool by empowering the next generation with the tools that they need to succeed especially basic literacy skills which remain fundamental pillars in socio-economic development,” said Tosin Eniolorunda, CEO Moniepoint Inc.
“These young voices represent the future of African leadership, and their insights into financial inclusion and technology demonstrate the remarkable potential that exists within our communities. Through our various educational and developmental initiatives such as the CAD/CAM lab we donated to OAU last year or the Moniepoint DreamDevs programme, we are betting big on an investment in Africa’s future.”
The initiative extends beyond monetary rewards, creating meaningful platforms for young people to express their ideas on a global stage. Through its support of the NextGen Connect Conference and Tech-In-School conversations, Moniepoint is fostering an environment where youth can develop critical thinking skills, build confidence, and engage with pressing societal issues.
In her remarks, Founder, Mega Impact Foundation, Florence Ogonegbu said that “we reaffirm our commitment to building an Africa where every young person has simplified access to sustainable education, capacity building, and empowerment.
By leveraging technology and local initiatives, we are creating platforms that enable our youth to thrive and transform their communities. Together with partners like Moniepoint, we are not just shaping futures—we are driving a movement for social development that will resonate globally. Every boy, every young person, deserves the opportunity to unlock their full potential and drive lasting impact across our continent.”
The competition received additional support from the Ministry of Women Affairs and Social Development, Delta State, highlighting the collaborative approach required to nurture young talent effectively.
General News
African Parliamentarians Seek Answers from Telcos on Quality of Service

African legislators across the continent are increasingly demanding answers from mobile network operators for chronic poor service. Parliamentarians in Cameroon, South Africa and Zambia are demanding answers on data pricing, network connectivity needs in rural regions, contributions to job creation, data security and privacy, and adherence to universal service obligations.
Zambia is the latest country to question telcos over quality of service, and National Assembly speaker Nelly Mutti has ordered minister of technology and science Felix Mutati to deliver a ministerial statement on the Airtel network’s repeat outages and the steps being taken to resolve them.
Lawmakers have expressed concerns about the impact of inconsistent connectivity, particularly in rural areas where mobile communication is important for emergencies and essential services.
This come after telecoms regulator, Zambia Information and Communications Technology Authority (ZICTA) read the riot act to Airtel, after its most recent outage last week.
This was not the first time the telco had experienced service interruption, which prompted ZICTA to threaten the telco with a fine.
Meanwhile, the speaker of parliament declared that the nation has to be informed about the causes for the network provider’s bad service and the steps being taken to address the issue.
Mutti said: “This matter is affecting everyone. We need to know why the services are poor and what is being done to ensure service providers comply with stipulated guidelines.”
The move by the Zambian parliament comes a few days after South African parliament also summoned mobile network operators to respond to a range of concerns that lawmakers felt impacted consumers.
The following issues were considered by parliamentarians: network connectivity standards in rural areas, contributions to job creation, transformation, and economic inclusion and empowerment for blacks in general, women, youth, and people with disabilities, data security and privacy, adherence to universal service obligations, and spectrum conditions for universal connectivity.
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