First Commodity Exchange In West Africa On Course


Commodity Exchange



 

Robert Dowuona Owoo, acting Project Director of the Ghana Commodity Exchange Project (GCX), says Ghana is still on course to deliver the first commodity exchange in the West African sub-region.

 

According to him, the country is also positioned to lead the re-writing of the narrative about Africa’s economic renaissance which is to create wealth through the transformation of the agricultural sector.

Mr Dowuona Owoo made this known at GCX’s second bi-monthly consultative meeting with its key stakeholders following the inaugural meeting held in November, 2015.

The consultative session, known as the Market Council meeting, is a platform for the GCX Project Secretariat to solicit feedback on the various outputs of the project which is in its implementation phase from council members.

The consultative session, which deliberated on concerns that bordered on trading related considerations, market surveillance and other key issues critical to the successful execution of the project, brought together all members including key producers, aggregators, traders, wholesalers, processors and other stakeholder groups.


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The Project Director of the Ghana Commodity Exchange Project commended the Market Council members for showing commitment towards the establishment of the first commodity exchange in West Africa.

He said the Exchange promises a bright, secure future to market actors in Ghana’s agricultural value chain, especially smallholder farmers.

Mr Dowuona Owoo called on stakeholders to support the Project Team to enhance market efficiency, transparency and integrity through the dissemination of market information in real time to all market players.

Launched in June 2015 by President John Mahama, the GCX Project is a Public-Private-Partnership (PPP) initiative aimed at transforming Ghana’s agricultural sector through the establishment of the first modern commodity exchange in the country.

The GCX Project is being financed with equity investment by the Government of Ghana under the sponsorship of the Ministry of Trade and Industry and a private sector financing consortium made up of domestic and global institutional investors.

By Cephas Larbi

[email protected]

 


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