Malawi Government Ministers and Commodity Exchange Leaders Visits EAX on a study tour
EAX recently hosted a high level delegation from Malawi in a study mission to the Exchange. The delegation included: Honorable Joseph Mwanamwevkha, State Minister of Industry & Trade; Honorable Allen Chiyembekeza, State Minister of Agriculture, Food Security and Irrigation; Mr. Wiskes Nkombezi, Assistant Director of Trade, Ministry of Industry & Trade and Exchange Officials. The two days study visit was to understudy the EAX operations and lessons learned. As part of their activities, the delegation visited the Government Warehouse silos at the Kigali’s Free Economic Trade Zone.
AHCX stands for Auction Holdings Limited Commodities Exchange which is a subsidiary of the AHL Group and has been operating since 2013. It is based in the country’s capital Lilongwe with seven other trading points across the country to enable trade in agricultural commodities for both local and foreign participants through a robust, price efficient, transparent and fair market structure for all stakeholders. The Malawi Exchange currently trades on Tuesdays and Thursdays with the current commodity offerings of: pigeon peas, groundnuts, rice, maize, and soya beans among others.
EAX and AHCX discussed common challenges confronting both Exchanges and shared ideas. Thus the decision was made to formalize the sharing of information and ideas through a MOU. The purpose of the MOU is to explore areas of cooperation including trading of commodity contracts on each other’s trading platform, information sharing, trainings, and member and investor education in our each other’s markets.
In his speech, the leader of the delegation expressed their gratitude to the Exchange for hosting them and their appreciation for what the EAX has achieved so far particularly working with Rwanda government to provide market access to Rwanda farmers.