ECX
i.e. Ethiopia Commodity Exchange had recently revealed in front of the public
that it would go for the implementation of various online trade projects and
commodity traceability during the fiscal year of Ethiopia. Shimelis Habtewold,
who is the Chief Executive Officer of ECX, said to the press conference that
his company would realize the traceability project on Tuesday via its
collaboration with USAID in combination with the outlay equal to 1.3 million
USD. Professionals of the online exchange firm have expected that the whole
project would provide buyers with processing and origin details on traded
commodities, along with creation of market access to both clients and members
of the company.
Moreover,
company has its plan to implement the online trading project in collaboration with another well-known organization named
as ICA i.e. Investment Climate for Africa with the outlay equal to 3.8 million
American dollars. Online trade activities have envisaged it to improve access
into ECX and their delivered services. Even this type of trade will build
capacity of many shareholders and increase efficiency. According to the opinion
of CEO named Habtewold, “When the project begins service, it will
enable market actors to participate directly in trading from remote online
trading centers established in different parts of the country, including
Humera, Gondar, Adama, Hawassa and Jimma.” All Africa
ECX
is an initiative for Ethiopia, as it works with the vision to revolutionize its
traditional bound agriculture via simply creation of new marketplace, which is
capable to serve actors operating in every market, like traders, farmers,
exporters, processors and consumers. ECX is obviously a unique partnership
comprises of various market actors, prime promoter of the company, members of
exchange and Ethiopian government. This online exchange represents the future
of the place via introduction of security, integrity and efficiency to the
competitive market.
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