Ethiopia's commodity exchange boosts growth
Established in 2008, the ground-breaking ECX has boosted exports in Ethiopia, improved conditions for producers and is now inspiring other countries in resource-rich Africa to set up their own exchanges to ensure they are the main beneficiaries of commodity exports. According to the ECX CEO, the traders previously had little knowledge of international market prices and could only rely on middlemen who pocketed hefty profits by selling on heavily marked up goods, a trend that has been reversed by functional commodity exchange.
