The Ethiopian Commodity Exchange (ECX) has launched an advanced online trading platform, a step towards modernizing the country’s trading systems and aligning with the Digital Ethiopia 2030 initiative.

Since its establishment 17 years ago, ECX has facilitated the trade of over 8 million tons of products, generating Birr 401.3 billion in revenue. The exchange now integrates 26 agricultural products into its market, benefiting over 4.5 million farmers and impacting the lives of more than 25 million Ethiopians.

At the platform’s launch, ECX CEO Wondimagegnehu Negera emphasized its transformative potential, noting that it enhances participation, accessibility, transparency, and competitiveness by enabling traders to sell their products remotely. This streamlined approach reduces time and costs, further optimizing the trading process.

Trade and Regional Integration Minister Kasahun Gofe (PhD) addressed ongoing efforts to combat disruptions caused by illegal traders and brokers, stressing the importance of collaboration between the government and businesses to streamline the trade chain. He also underscored the vital role of exports in driving economic growth, noting that the new online trading platform strengthens Ethiopia’s competitiveness in international markets and supports the broader goal of enhancing trade efficiency and transparency.

Source: The Ethiopian Herald