Ethiopia Commodity Exchange intends to expand the range of crops it trades and wishes to introduce stocks and bonds in its five year expansion plan, Chief Executive Officer Ermias Eshetu said.

The market plans to shift from Coffee and sesame seeds to sugar and grains like corn said Ermias in an interview with Bloomberg. Moreover equities, government debt, power and metals may also be added to the stock exchange market.

“We want to be a marketplace for any kind of stock, be it derivatives, agricultural commodities, financial instruments,” said Ermias.

The commodities exchange commenced in 2008 with the assistance of U.S government’s Aid Agency and United Nations among others. In a year, it turned out to be the major route for Coffee exports following the state’s decree obliging traders to sell to exporters at the stock exchange.

Source: Bloomberg