2merkato

The Chief Executive Officer of the Ethiopia Commodity Exchange, Eleni Z. Gabremadhin (Dr.) signed a Memorandum of Understanding with the Nigerian President Goodluck Johnathan to set up a commodity exchange in Nigeria according to the model of the ECX.

The MoU signed at the ECX office states that the Exchange will provide the assistance and the model for the Nigerian Commodity Exchange to be operational in one year.   

Nigeria already has a commodity and stock exchange markets in place although the commodity exchange is not as modern as the ECX. The Nigerian President is seeking to replace the Abuja Securities and Commodity Exchange plc with an Exchange that is driven by technology.

Ethiopia Commodity Exchange (ECX) traded commodities worth over $144.16 million (4.64 billion birr) during the month of January, the Exchange disclosed in a statement sent to 2Merkato.com.

Ethiopia Commodity Exchange (ECX) traded 74,950 tons of commodities, which are worth $117 million (3.84 billion birr) during the month of March, the Exchange disclosed in a statement sent to 2Merkato.com.

Ethiopia Commodity Exchange (ECX) announced that in the 23 trading days in October it transacted 21,034 tons of coffee, 9,434 tons of sesame, 6,534 tons of soya bean, 6,046 tons of green mung bean, and 1,327 tons of white bean. The amount comes to a total of 44,394 tons of commodities, traded for $72.49 million (2.16 billion birr).

Ethiopia Commodity Exchange (ECX) announced it traded 338,253 metric tons of commodities, worth $551.1 million (17.52 billion Birr) in the first half of the Ethiopian fiscal year that began in July 2019. The amount exceeds the target set for the period by five percent, and has shown a 28 percent rise compared to the same period last year, the Exchange said in a statement sent to 2merkato.com.