EAX, Government discuss roadmap

THE EAST AFRICA EXCHANGE (EAX) will next month send key personnel in product development and stores management to work with the Government of Rwanda on a road map for how the Exchange will achieve its targets.The move is aimed at aligning and sensitising farmers about the work of EAX, as it sets strong footing in Rwanda and in the region by acting as a key link between farmers and markets.Working as a regional commodity exchange, EAX was established to link smallholder farmers with better access to agricultural and financial markets.The personnel will be accompanied by EAX’s technology partners, NASDAQ - an American stock exchange which will deploy technology to power trading and clearing for the exchanges in the region.This week the Minister of Agriculture and Animal Resources, Agnes Kalibata met the Managing Director of Africa Exchange Holdings, Jendayi Frazer and CEO of EAX Rwanda, Paul Kukubo to discuss the features of the EAX as well as its key players and their roles. At a press conference in Kigali on Wednesday, John Bosco Sebabi, the COO of EAX Rwanda, said that the EAX will work directly with local and regional warehouse infrastructure to provide value- adding storage facilities to support farmers in providing licensed weighing, grading and drying services. “The exchange will initially focus on establishing an auction facility and spot trading for agriculture and non-agriculture commodities, but will also develop future trading across the region,” Sebabi said.“EAX will work closely with the government and target markets to provide opportunities to farmers who will be members. This combination of commodity market development, warehouse infrastructure and world class technology will empower farmers in the region and propel the agriculture sector to higher standards.”Last month, 2,800 tonnes of beans were traded under EAX Rwanda, raising hopes that it would indeed go on to help raise farmers’ incomes and improve regional market efficiency.The Exchange was launched at the World Economic Forum in Davos in January by President Paul Kagame- its founders include Heirs Holdings, Berggruen Holdings, 50 Ventures and Ngali Holdings.

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EAX, Government discuss roadmap