Your favourite Agro-
Commodities at your
fingertips.

Marketplace for Agricultural Products, Loans and
Financing Powered by Blockchain.

Your recipe for Growth
all in one place

This is a collaborative platform that provides all you need to scale your agribusiness and enables you engage in profitable agribusiness opportunities with ease.

OUR TRUSTED PARTNER

AFEX

Harnessing Africa’s commodities and talent to build shared wealth and prosperity.

OUR UNIQUE FEATURES

A hub for agro-commodity traders to buy and sell agro-commodities and inputs under a controlled system.

Warehousing through access to over 100 warehouses for farmers to store commodities for sale at a later time.

Financing options for farmers and aggregators including Input Financing and Warehouse receipt financing.

Frequently Asked Questions

What is SABEX?

What are the benefits of SABEX?

Who are the typical users of SABEX?

What type of commodities can be traded on SABEX?

How can users register on the platform?

How can farmers store commodities?

Are commodities graded?

How does trading work?

How is payment done on the platform?

At what rate?

How much can farmers get?

What is the role of AFEX?

Does the platform support transport logistics?

How can users access financing on the platform?

What are the requirements to access funding on SABEX?

• The SABEX platform provides access to the market for rural farmers or producers of agro commodities as there is guaranteed offtake on the platform.

• The platform also provides access to finance for farmers who can pledge their warehouse receipts as collateral to get instant credit from the bank.
• SABEX is a financial inclusion tool as it allows rural farmers to own digital wallets on the platform.
• The platform supports price discovery and promises to offer competitive prices for commodities which directly impact the income of farmers
• The platform provides quality and affordable raw materials for processors.
• The platform is set to curb the issue of post-harvest losses with the provision of warehouses for farmers to store harvested produce.
• The platform is easy to navigate web-based and generally user friendly.
• Trading of commodities digitally via the exchange of electronic warehouse receipts will create a new asset class for investors

• Farmers
• Agro-processing companies (off-takers)
• Warehouse operators.
• Farmer groups
• Aggregators.
• Individual Investors.

SABEX supports the trading of grains (hard commodities NOT perishables) such as:

• Rice (paddy)
• Maize
• Soya beans
• Sesame

Users can register on the platform by signing up to sabex.ng and providing basic biodata. BVN validation and email verification are done during sign-up as such users are to ensure the right BVN details are used as well as valid email addresses. Also, user should register with the phone no registered on their BVN and sterling bank account.

Once farmers register on the platform, a unique ID is generated for them as well as a wallet account. Farmers are to take this unique ID to the nearest AFEX-accredited warehouse to store their commodities. AFEX will receive these commodities, check the quantity and quality and update farmers' records accordingly. Farmers can always log in to SABEX to confirm the commodity information updated on their profile by AFEX.

Yes, commodities are graded by AFEX. Grade A commodities are commodities with premium value.

Once farmers have commodities reflecting on their profile on SABEX, they can go ahead to publish those commodities on the SABEX marketplace for prospective buyers. During posting to the market place the farmers will be asked to select the intended volume and also quote a price per unit. This price must not be outside the agreed range of the daily price schedule. Other users (buyers) can log into the marketplace to see the various commodities. The typical information for every commodity posted on the marketplace is the quantity, the price per unit, the quality and the warehouse location where the commodity is stored. Buyers can place a bid on the commodities by quoting their preferred price. If this is acceptable to the seller, the trade is sealed and payment is made. If not, such a trade is rejected. Buyers just have two opportunities to place a bid after which they can no longer continue on that particular trade.

All financial transactions on SABEX are wallet-based. Users will be required to fund their wallets to make purchases on the platform. The “fund wallet” button allows users to move funds from their sterling accounts to their wallets on SABEX. Sellers also receive payments for commodities in their wallets and have the option to withdraw such funds from their wallets to their Sterling bank accounts.

Users who have commodities on the platform can apply for instant financing on the platform by pledging their warehouse receipts as collateral. A credit check is run digitally on the platform as the first eligibility criteria to ascertain the creditworthiness of intending applicants.

Funds on the platform will be availed at the bank’s prevailing lending rate.

Farmers can access up to N 5 million naira instantly on the platform but this is subject to availability of adequate collateral and basic documentation requirements. For larger amounts, farmers will be required to provide further documentation to validate the request. Farmers can only pledge 70% of their commodities as collateral on the platform.

AFEX is a licensed private commodity exchange in Nigeria with a good spread of warehouses across the country. These are the warehouses that farmers can approach to store commodities. As a licensed commodity exchange and collateral management company, AFEX has the rights and expertise to weigh these commodities and also review their quality. AFEX is also liable for all commodities in its position.

Not at the moment. Buyers will be responsible for moving their commodities from the warehouses.

Farmers

Single obligor limit - N5 million

· Minimum of 2 hectares
· Minimum of 5 tonnes
· History of aggregation business/historical of past transaction (1 year)
· Credit search

Cooperatives

Single Obligor limit - N50 million

· Cooperative registration
· History of aggregation of business/historical of past transaction (1 year)
· The loan amount is 50% of the annual turnover
· Satisfactory credit report.
· Management considerations number of cooperative members, number of years in existence, farming seasons for aggregation

Large aggregators/agro-processors

Single Obligor limit - 500 Million

· CAC doc /business name/ltd
· The loan amount is 50% of the annual turnover
· Average turnover
· Credit search
· History of aggregation of business/historical of past transaction (1 year)
· Audited financials/management account

Security conditions

Warehouse receipt financing

· Electronic Warehouse Receipt covering the commodity in the warehouse by 120%.
· Insurance cover on commodities.

Guarantee - impact, Nirsal for amounts above N500 Million

Your favourite Agro- Commodities at your fingertips.

Marketplace for Agricultural Products, Loans and Financing Powered by Blockchain.