The Ethiopian Commodity Exchange (ECX) revealed that it conducted transactions totaling nearly Birr 19.4 billion over the past nine months. This involved trading 172,000 metric tons of various agricultural commodities.ECX CEO, Wondemagegnhu Negera, underscored the exchange's commitment to a smooth and efficient system. He pointed to their success in facilitating trades exceeding Birr 386 billion in their 16 years of operation, covering a diverse range of 22 products. Sesame emerged as the top traded commodity at 73,000 metric tons, followed closely by coffee at 50,000 tons. Notably, coffee witnessed a 17% volume increase and a 5% revenue rise compared to the same period last year. Sesame also saw a significant boost, with both volume and revenue jumping by 45%.Highlighting the exchange's contribution to foreign trade, Wondemagegnehu announced plans to integrate beer barley and salt into the modern market system by the end of the fiscal year.Further bolstering its efforts, ECX entered into a strategic agreement with ZamZam Bank. This partnership aims to modernize and streamline the market system. Wondemagegnehu emphasized the agreement's potential to enhance market participation through several key factors: financial inclusion, accountability, legality, swift transactions, accessibility, and favorable conditions.ZamZam Bank President, Melika Bedri, echoed the enthusiasm, expressing the bank's commitment to serving customers seeking interest-free services. Melika highlighted the bank's extensive branch network across the nation, emphasizing the collaborative effort to create a supportive environment for producers and drive meaningful change. (ICE ADDIS ABEBA)

Fonte notizia: 2merkaro & The Ethiopian Herald