News in Brief:
– A report by AFEX reveals widespread poverty among Nigerian farmers, with over 80% living below the poverty line.
– The pan-African commodities trader is committed to improving livelihoods and building a sustainable agricultural sector in Africa, focusing on climate-resilient practices.
A new report by pan-African commodities trader AFEX paints a concerning picture of rural poverty in Nigeria. While examining its activities over the past five years, the company found that over 80% of Nigerian farmers live below the poverty line.
This figure is significantly higher than Kenya, where 43% of farmers struggle with poverty according to the same report.
AFEX, which operates in both Nigeria and Kenya, acknowledges the challenges faced by farmers and outlines its efforts to improve livelihoods. These efforts include providing access to certified seeds, high-quality fertiliser, extension services, and storage facilities through strategically located warehouses.
AFEX focus on sustainability and impact
The commodity trading firm highlights its commitment to creating a sustainable and inclusive commodities market in Africa. Since its launch in 2014, it claimed to have collaborated with over 500,000 farmers and facilitated over 1 million metric tons of agricultural commodity trades.
It adds that its initiatives contribute to achieving multiple Sustainable Development Goals (SDGs) including poverty reduction (SDG 1), zero hunger (SDG 2), gender equality (SDG 5), decent work and economic growth (SDG 8), responsible consumption and production (SDG 12), and climate action (SDG 13).
The report also notes the growing threat posed by climate change to African agriculture. Farmers are experiencing more frequent floods, droughts, and unpredictable rainfall patterns, jeopardising their productivity and contributing to food insecurity.
AFEX acknowledges the need for comprehensive solutions and expresses its commitment to promoting sustainable and climate-resilient agricultural practices across Africa.
