The Ethiopian Commodities Exchange (ECX) made a payment of Birr 14 billion during the past seven months using an electronic trading system. ECX started modernizing its payment system 15 years ago by entering agreements with Commercial Bank of Ethiopia and Dashen Bank. It currently works with 19 banks to enhance its trading system.
The top management of the Ethiopian Commodity Exchange, including the Chief Executive, handed over 
the reins to the new management team under Anteneh Assefa.
The official transfer ceremony was marked when Dr. Eleni and Anteneh rang the bell to start the day’s trading on the commodity market together.
The five members of the top management team handing over their duties include Dr. Eleni Gebemedhin, founding CEO of the exchange, Ahadu Wubishet, (Operations Officer), Bemnet Aschenaki, (Strategic Officer), Solomon Edesso (Information Technology Officer), Sirak Solomon (Compliance Officer).
Preparations are underway to integrate opal and other mineral products into the trading platform of the Ethiopian Commodity Exchange (ECX), expanding its activities beyond agricultural commodities.
The Ethiopian Commodity Exchange was only able to attract a single bidder for the seat it offered for bid. The seat was put on sale through the exchange after Ural Industries to relinquish its seat on the ECX.
The only interested bidder for the sea was Dejen Industrial plc which made an offer of 1.3 million birr for the seat on the exchange.
It is to be remembered that the trade volume of the exchange reached 21 billion birr in the last financial year while its trading volume increased to 601,000 tons announced the ECX.
The Ethiopian Commodity Exchange (ECX) announced it will further strengthen the warehouse receipt financing scheme during the opening of the Warehouse Receipt System for Inclusive Agricultural Finance Symposium.
The scheme makes farmers eligible for bank loan using their Warehouse Receipt issued by the Exchange for commodities stored in ECX warehouses as collateral.
ECX Chief Executive Officer, Eleni Gebre-Medhin, told participants at the Warehouse Receipt Systems for Inclusive Agricultural Finance Symposium, organized jointly by ECX and the International Finance Corporation (IFC), amount exceeding 1.5 million USD warehouse receipt financing service was made available to framers last year. The scheme has considerably assisted smallholder farmers who would have no choice but to sell produce at low prices.
