It is with great pleasure and immense pride that I congratulate all members, employees, and stakeholders of the Exchange on the successful implementation of our new online trading platform. This milestone represents a significant leap forward in our mission to modernize Ethiopia’s commodity Exchange.
Ethiopia Commodity Exchange was established by Proclamation No. 550/1999 as a pioneer in modernizing Ethiopia's Agricultural Trading System, with the core mandate of enabling modern trading of agricultural commodities and ensuring that farmers are the true beneficiaries of their hard work. The ECX is proud to be a pioneer of its kind within Africa.
Our commitment to providing Ethiopian farmers, suppliers, traders, and processors with a free, transparent, accessible, and fair-trading system is not merely a modern necessity; it is a foundational pillar of the country’s homegrown economic reform policy. This policy is designed to enhance Ethiopia’s competitiveness in the global market and boost our exports through diversified and successful activities.
ECX has been instrumental in empowering farmers, enabling them to sell their agricultural commodities at a comparatively better price. By encouraging the production of global-demand agricultural products suited to our climate, the Exchange has played a crucial role in increasing product diversity and improving overall productivity.
Drawing upon the experiences of successful exchanges worldwide, ECX has cultivated a center for modern trade. Over the past few years, we have seen a positive shift in attitudes among policymakers and farmers alike, who are embracing the benefits of a well-developed and legally based exchange system.
Our successful payment and delivery system, where buyers and sellers' complete transactions within 24 hours of a trade, is a testament to our efficiency and reliability. The modernity and trustworthiness of this system are a source of great pride and a key reason for our customers’ continued confidence.
In alignment with Ethiopia’s homegrown economic policies for achieving prosperity, ECX has launched a new strategic roadmap and has successfully rebranded itself. This includes expanding our scope beyond agricultural commodities to enable the trading of minerals, factory products, hides and skins, and fruits and vegetables.
A new online trading platform has been introduced, allowing for direct, remote trading without the need for physical presence at our trading centers. This innovation provides buyers, suppliers, and processors with a fast, accessible, transparent, and fair-trading option.
Building on the achievements of the past decade, we are now focused on the future, which is filled with both opportunities and challenges that demand a forward-looking perspective. We must prioritize developing systems that can adapt to the dynamic nature of the market and the evolving needs of our stakeholders. I therefore call on all stakeholders to join hands and work collaboratively to achieve our strategic goals.
Mergia Bayissa
Chief Executive Officer