ECX to Establish Academy to Train African Exchanges Staff, Traders

The Ethiopia Commodity Exchange (ECX) disclosed that it has planned to establish an academy this Ethiopian budget year.

The establishment objective of the academy is to provide training to Ethiopian traders, baristas and cuppers as well as staff of the African Exchanges, according to ECX statement.

As part of its corporate social responsibility, the Exchange shared its vast experience in modern trading system to the officials of Mozambique Commodity Exchange and Reserve Bank of Malawi for the past three days, it was indicated.

The senior management members of the Exchange shared their knowledge in compliance, warehouse, quality and trade operations; trade and warehouse surveillance, clearing and settlement and business information dissemination.

The guests also paid visit to the central laboratory, trading platform and Addis Ababa branch, where both organizations have shared their experience in the commodity exchange operational and regulatory activities.

“This engagement paves the way for integrating the African Exchanges to engage jointly in intra-continental modern trading,” according to the statement.  

ECX is serving as center of excellence to African Commodity Exchanges in addition to international organizations, universities and researchers, said the statement.

Ghana, Tanzania, Rwanda and other Exchanges have been established after they grasped the experience of the Ethiopia Commodity Exchange, it noted.  

During the experience sharing session, Mrs. Victoria D. Paulo, the Chairperson of the Mozambique Commodity Exchange expressed her interest to send technical staff to ECX for in depth training.