The British International Investment, the UK’s development finance institution, has announced a $26.5m commitment to AFEX, to address food security in Nigeria, Kenya, and Uganda.
Addressing journalists in Lagos on Wednesday, the Chief Executive Officer of BII, Nick O’Donohoe, said that the investment would support structural improvement in Africa’s agricultural industry.
This would significantly benefit smallholder farmers and lead to improvement in security.
According to O’Donohoe, AFEX currently has over 200 warehouses in Nigeria, Kenya, and Uganda and serves over 450, 000 farmers.
His words “BII investment will be used to build 20 warehouses in strategic locations in Nigeria, Kenya, and Uganda. Its capital will also scale warehouse technology and next-generation software that capture post-harvest pricing,”