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East Africa Exchange (EAX) is a commodity exchange

Category: Visitors

CEO of Nigerian Export Promotion Council Visits EAX during World Export Development Forum in Kigali

Rwanda. Mon 15 Sep 2014, 12:00 am

CEO of Nigerian Export Promotion Council Visits EAX during World Export Development Forum in Kigali

Kigali, Rwanda: Mr. Olusegun Awolowo, CEO of the Nigerian Export Promotion Council (NEPC), paid a courtesy visit to the Exchange during his first trip to Rwanda on official mission. Mr. Awolowo was accompanied by his Technical Advisor Maureen Ideozu who were both delegates at the 2014 World Export Development Forum which was hosted for the first time in Rwanda and in Africa, respectively. After a brief tour of the Exchange headquarters, Mr. Awolowo and his advisor had a private meeting with EAX Country Manager for Rwanda, Dr. Kadri Alfah who was accompanied by EAX Membership and Outreach Manager Carol Rugege. Dr. Alfah summarized the Exchange’s warehousing initiative which has the capacity to store up to 30,000 metric tons of maize and beans all across Rwanda which will be grains deposited by organized farmer cooperative groups. The Exchange was given 15 warehouses to manage by the Government of Rwanda under the auspices of the Ministry of Agriculture. Currently, 37 cooperatives have been engaged, totaling approximately 20,000 farmers. The Exchange model consists of capacity building for the small holder farmer by teaching him about the importance of grain quality standards, adopting modern farming techniques, understanding warehouse operations and ultimately using the Exchange’s world class electronic trading system.

Mr. Awolowo congratulated EAX on a job well done investing in the livelihoods of our African farmers, a group often overlooked. He expressed his appreciation for the Exchange’s role in promoting intra-Africa trade and participating in the East African Community’s integration process. He questioned why the investors chose Rwanda over Kenya as the pilot office for the regional commodity exchange. Dr. Kadri quickly cited the good governance of the Rwanda government as well as the conducive and relatively seamless process of registering and doing business in the country. Ms. Ideozu had questions about the focus on cereals and grains and the Exchange’s future goals of trading other commodities. Dr. Kadri responded by saying that grains can easily be stored and in most cases for periods as long as six months. Equally, grains have established and harmonized quality standards that are accepted across the East African member states.

Published By: Dr. Kadri Alfah

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Dr. Kadri Alfah About the Author / Dr. Kadri Alfah

EAX Country Manager, Rwanda

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