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Search Results: ecx

New law to make it easier for ECX to add commodities

Published: Dec 3, 2009 by bini Filed under: Ethiopian News
The government has proposed an amendment to the legislation that established the Ethiopian Commodity Exchange (ECX) in order to increase the number of commodities it can trade. After opening in April 2008, ECX soon became the exclusive coffee trading medium after only a few months.

With the overall export performance over a billion birr short of its target last budget year, the ECX became a source of debate after the government accused six major coffee exporters and 88 suppliers of hoarding substantial amounts of coffee in an alleged effort to starve the exchange.
PM Meles Zenawi said the exporters' act was the main reason for the underperformance.

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Pakistani firm selected install display system in Ethiopia

Published: Nov 7, 2009 by bini Filed under: Ethiopian News

November 7, 2009 (ADDIS ABABA) – A Pakistani high-tech firm would set up a country-wide network of real-time LED information displays for Ethiopia Commodity Exchange (ECX).

Based in Dubai Silicon Oasis, Wavetec is specialized in digital display solutions and queue management systems.

Eleni Gabre-Madhin, the chief executive officer of the Ethiopian exchange signed a $ 1.68 million contract with director sales Wavetec for Africa Ziauddin Siddiqui in Addis Ababa on October 29.


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Ethiopia Commodity signs $1.68 mln deal with Pak firm

Published: Nov 7, 2009 by bini Filed under: Ethiopian News
A stockbroker talks on his mobile as he sits under a digital board during a trading session inside the trading hall of the Karachi Stock Exchange. Some of the biggest clients on Wavetec's portfolio include the Karachi Stock Exchange, UBL and Mobilink. -Photo by Reuters

DUBAI: The Ethiopia Commodity Exchange (ECX) is setting up a country-wide network of real-time Information Displays developed by Pakistani firm Wavetec, to ensure that updated commodity price information is available and easily accessible. The $1.6 million deal is part of a project sponsored and funded by the World Bank with the aim to end exploitation and increase legitimacy of the trading process by making accurate data available at all times.
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Ethiopia to trade specialty coffee locally

Published: Oct 21, 2009 by bini Filed under: Ethiopian News

ADDIS ABABA (Reuters) - Ethiopia plans to move the trade in its specialty coffee to an Addis Ababa-based commodities exchange instead of the current channel of selling the beans at auctions overseas, a senior trade official said.

Eleni Gebre-Madhin, Chief Executive Officer at the Ethiopian Commodity Exchange (ECX) said up to 30 percent of the country's produce is classified as specialty beans but that higher prices for the fine coffees were not trickling down to farmers.


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