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Ethiopia: ECX Seeks to Improve Accessibility

07.07.2017

 | Source:  The Ethiopian Herald; All Africa

ECX has been building regional trading centers to improving its accessibility across the country.

The Ethiopian Commodity Exchange (ECX) has been building regional trading centers to improving its accessibility across the country, particularly around major regional agricultural hubs.

The exchange has been building regional trading centers in Hawassa, Nekemete, and Humera whose constructions are fully completed. "We are also building in Jimma, Adama and Gonder," ECX CEO, Ermias Eshetu told The Ethiopian Herald that. "And we are going to reach out to be closer to the agro hubs across the country."

"We are going to allow potentially more trading to happen across the country. So step by step, there are a lot of things in action," he added.

ECX transacts over 27 billion Ethiopian birr per year. "We trade up to 300 million birr a day on peak seasons, while this goes down to a 100 million on low seasons," he said. "This is not profit or income. It is the transaction value of what the exchange does, which accounts for eight percent of the national GDP," Ermias noted.Up on its establishment, the value of one trading seat at the exchange was 50,000 birr. At the moment, the value has gone up to 3 million. Read more on All Africa.

Source: All Africa