AFEX one of Nigeria’s commodity players seeks to raise $175 million in its bid to provide low-cost financing to agro-processors in Africa.

The commodity exchange firm said the new funding will be raised via an asset-backed commercial paper.

The company stated that funds would provide pre-qualified agro-processors with working capital to purchase commodities required for their production processes.

Recently, the company projected that food items would become more expensive in 2022.

– The Cable