ADDIS ABABA (HAN) November 12, 2015. Public Diplomacy & regional Security. The Head of the Investment Climate Facility for Africa, William Asiko, has called the Ethiopian Commodity Exchange (ECX), one of the few successful commodity exchanges in Africa, “a model that many other African countries are looking at.”
He said it was particularly important as it “has been able to remove the market distortions between buyers and sellers. Whenever there is a distortion between buyers and sellers it is the small holder that loses. So removing those market distortions benefited small holders significantly.”
Such experience has become an attractive model for other African states which want to build a strong commodity exchange system. Countries like Mozambique, Nigeria, Egypt and Malawi are creating partnerships with the ECX. The ECX has received a number of Presidential and ministerial visits from countries across Africa as well as from Asia.
All have been seeking insight and know-how from the Ethiopian way of doing business as demonstrated in the Ethiopian Commodity Exchange. MFA