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AFEX launches ag-hackathon to create solutions for Africa’s agriculture sector

Nigeria’s leading commodities exchange, AFEX, has announced its Code Cash Crop ag-hackathon to empower innovators to create solutions that integrate technology, finance, and agriculture for the development of the continent’s food and agriculture sector.

The ag-hackathon is the initial activity in the third edition of the annual Code Cash Crop event hosted by AFEX in partnership with other key players in the agriculture, finance and technology sector.

The Code Cash Crop event for this year, which will feature the grand finale of the ag-hackathon, builds on the success of the two previous events in 2018 and 2019.

This year’s event is set to host hundreds of top corporates and entrepreneurs from the focus sectors with panels and discussions on the optimization of trade infrastructure for agriculture on the continent.

Taking place between April 20 – June 1, the ag-hackathon will accept applications from individuals who are technology, finance, or agriculture enthusiasts. Thirty applicants will be shortlisted in the first phase of the ag-hackathon, which will then take place in Kano and Ibadan.

Applicants, who will be grouped into teams, will competing for the N2.5 million cash prize to develop their ideas, in addition to coaching and bonus resources to help them scale their innovations.

AFEX CTO, Yusuf Oguntola, said, “We believe that it is essential to nurture a culture of collaboration and innovation, especially if we are to effectively tackle some of today’s urgent agriculture challenges.”

“We are happy to receive ideas that can grow into viable solutions for optimizing agriculture trade infrastructure through the participation of the technology, finance, and agriculture sectors,” Mr Oguntola said.

He added that technology will be key in promoting a platform model for agriculture trade that can focus on providing access to logistics, access to advisory services, access to inputs, and access to the market, which are all key to the future of agriculture in Africa.

Having created solutions that have integrated these three sectors, AFEX is well-positioned to roll out workable pathways to drive the convergence that will build prosperity alongside creating immense social value.

Bolstered by an existing supply chain infrastructure of over 100 warehouses and digital trading platforms that link investors with producers and processors, the company’s commitment to the agricultural sector and deep industry knowledge will add crucial expertise to this much-needed activity.

Since its launch in 2014, AFEX has committed to leveling-up Africa’s agri-tech sector; by helping the continent trade with itself and the world, while boosting food security and making food production more efficient.

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