AFEX, a commodities market player in Nigeria has said that knowledge is a critical factor in thriving commodities exchange ecosystem.
Ayodeji Balogun, Chief Executive Officer, AFEX said this at an MOU signing event of the commodities market player and Chartered Institute of Stockbrokers (CIS) in Abuja on Tuesday.
According to the exchange, the collaboration will allow the creation and organisation of certificated courses on the commodities market as well as the commodities value chain ecosystem and allied sectors, which will be added to other Continuing Professional Development (CPD) Programs of the CIS Academy.
As a result, it added that the development would see the emergence of certified commodity brokers whilst also increasing the participation and level of activity of investors in the commodity market.
In commemoration of International Women’s Day 2022, the commodities exchange also announced that AFEX will sponsor the first 50 women who would be enrollees in the commodity market training developed by the two entities.
What they are saying
- Ayodeji said the partnership would help in the development and expansion of knowledge on the commodities market and commodities backed securities.
- He said, “As a commodities exchange and a capital market player, we are able to educate and raise knowledge about the commodities trading ecosystem among CIS members and other capital market participants. Knowledge is a critical indicator of a thriving commodities exchange ecosystem.”
- Olatunde Amolegbe, the President and Chairman of the Governing Council of the Chartered Institute of Stockbrokers (CIS) Nigeria also said the broker’s Institute is excited about the new exciting opportunities ahead for the inclusion of commodities as an alternative asset class in the portfolio of the clients.
- He said, “Prior to now, the focus in the capital market has been on equities, bonds, shares and stocks but the ability to diversify client portfolios with an additional asset class such as commodities provides the needed diversification for the reduction of risks and can enhance returns. So, for us as professionals in this industry, partnering with AFEX was a given.”