Ethiopian Commodity Exchange Shares Experience to African Exchanges, Plans to Start Training Academy

ECX-experience-exchangeEthiopia Commodity Exchange (ECX) announced that it shared its experience in modern trading systems to the officials of Mozambique Commodity Exchange and Reserve Bank of Malawi for three days, August 13 – 15, 2019.

The Topics on which ECX’s senior management shared their experience include compliance, warehouse, quality and trade operations; trade and warehouse surveillance, clearing and settlement and business information dissemination. The guests also paid a visit to the central laboratory, trading platform, and the Exchange’s Addis Ababa branch. The two organizations, in turn, shared their experiences in the operations of commodity exchange and regulatory activities.

This engagement, ECX said in a press release, paves the way for integrating the African Exchanges to engage jointly in intra-continental modern trading. The recent Africa Free Trade Agreement, regional economic integration and other multi-lateral economic agreements between African countries are unexploited opportunities to African Exchanges to establish bilateral and multilateral agreements with each other to facilitate the modern agricultural and industrial commodities trade system. This, ECX observes, in turn, creates more market access to African farmers and companies to trade with each other. The Exchange further noted Ghana, Tanzania, Rwanda, and other Exchanges have been established after grasping the Ethiopia Commodity Exchange experience, as ECX is serving as a center of excellence for African Commodity Exchanges.

ECX also stated it is striving to establish its own ECX Academy in the present fiscal year to conduct well designed and tailored trainings, further noting that it expects local traders, baristas, cuppers; as well as the staff of the African Exchanges to exploit the opportunity to be provided by the academy. Chairwoman of the Mozambique Commodity Exchange, for one, has expressed her interest in sending technical staff from the Mozambique Commodity Exchange to ECX for in depth training.


Source (Including Image): ECX Press Release sent to 2Merkato.com

 

Exchange Rates

Selling
Buying
USD 29.9569  29.3695 
GBP 36.8826  36.1594 
EUR 33.2881  32.6354 
CHF 28.8512  28.2855 
CAD 20.5823  20.1787 
AED 7.3802  7.2355