AFEX Raises $26.5 Million in Funding 

Nigeria-based agritech AFEX has secured $26.5 million in funding. The British International Investment signed a new partnership with the agritech that will see the investor commit $26.5 million to the company’s activities. AFEX has BII’s investment for the development of 20 modern warehouses strategically located in Nigeria, Kenya, and Uganda. The new warehouses are expected to offer an additional storage capacity of 230,000 metric tons for AFEX. This expanded storage infrastructure will make it possible for approximately 200,000 more farmers to access cost-effective storage solutions and optimise their crop sales. The potential impact with the possibility of boosting farmer incomes by over 200%.