Ethiopian Commodity Exchange (ECX) disclosed it signed a Memorandum of Understanding (MoU) with a government led exchange from Mozambique, Bolsa de Mercadorias de Mozambique (BMM), which models the ECX in its establishment.

The MoU intends on technical, training and consultancy cooperation between the two exchanges.

While signing the MoU, BMM’s CEO, Antonio do Rosario Grispos said, “We are impressed by what ECX accomplished during the past few years and its vision for the future.”

“ECX is exceptional in its unique design, business model and use of Information Technology. It is shaping the way forward for many African Exchanges as a modern and dynamic market platform.”

ECX CEO, Ermias Eshetu said, “ECX is delighted to see the ECX model replicated across Africa. We are engaging partnerships across Africa as well as with major international exchanges in order to leverage best practice approaches as we aspire to become a world class Exchange.”

Currently, delegations of senior officials from BMM are undertaking a week long training at the ECX.

Source: The Reporter