"Financing contributes towards sector development when it introduces novel approaches or financial products to address established problems, extends proven financial products to new markets or customers, and attracts new types of investors or sources of capital."
Ayodeji Balogun is a Nigerian entrepreneur, commodity trader and CEO of AFEX, Nigeria's first private sector commodities exchange, and tech-enabled Agriculture Company. He is a Board of Trustees of The Association of Security Exchange in Nigeria and serves on the board of Capital Market Development Fund. At 13, he completed a business venture that would be valued at $4,000 in today’s world.
"My first solo run as an entrepreneur was at age thirteen, and I had to consummate a $4,000 (at today’s value) transaction 30 kilometers away from home. It was my initiation to entrepreneurship, and I continue to find joy in building businesses, creating solutions and designing products and services till date."
"In my current phase, I am learning the definition of success to be more than just career goals and financial aspirations, I now define value creation more broadly that profitability and growth, and I am finding ways to create and scale businesses that solve life’s wicked problems – poverty and its impact on health and education of poor Africans; food security and climate change. I am a proud father of two and married to an awesome Medical Doctor."
"I believe that the tools needed for success in life are beyond building complex financial models and creating insightful decks. They require understanding people (millennials and tech-natives particularly) and how to keep them continuously motivated; understanding the world’s wicked problems (poverty, financial inclusion, climate change and adaptation) and how to create solutions that are commercially viable; and even harder, raising capital to solve these problems and creating social and economic value."
"I currently serve as the Country Manager for AFEX Commodities Exchange Limited (AFEX) and the Regional Director, Africa Exchange Holdings for West Africa. At AFEX, we are building systems that leverage technology, innovative finance, and inclusive agriculture to connect smallholder farmers to commodity and financial markets. I hold an MBA from Lagos Business School, a first degree in Mechanical Engineering and a diploma in Heavy Equipment Engineering from Penn Foster University, Scranton, US."