Launch of the first commodity exchange in East Africa
The first commodity exchange of East Africa was officially launched on July 3 in Kigali, Rwanda.The first commodity exchange of East Africa was officially launched on July 3 in Kigali, Rwanda.
The East Africa Exchange (EAX) was established by investment companies Heirs Holdings, Berggruen Holdings, 50 Ventures and Rwanda Investment Holding Company Ngali.
It aims to increase the efficiency of the regional market and to enable farmers to have competitive prices for their crops, as well as
better access to finance.
"Our vision is to make agriculture a real economic sector in which small farmers will manage their operations as business leaders," said Director of Operations Kadri Alfah at the launch, cited by newspaper Jeune Afrique.
Only Burundi, Kenya, Uganda, Rwanda and South Sudan are yet involved in the project - Tanzania and Ethiopia have an observer status.