With intention of transforming Africa’s commodities into tradable assets, Ethiopia Commodity Exchange (ECX) and the United Nations Development Program (UNDP) office in Ethiopia are set to organize African commodity exchange conference next week here in Addis Ababa.

According to the statement of the organizers of the conference which will be open from November 8-9, 2011, the meeting will be a historic gathering to deliberate on innovative market instruments.

“Participants of the meeting will explore the role and functioning of commodity exchanges and their potential for transforming Africa. The ultimate objective is to achieve a common African position held between government and the business community on how to best achieve the potential of commodity exchanges and to create prosperity for Africa,” the statement noted.

The attendants of the co0nference includes Africa’s various exchange initiatives from Rwanda, Ghana, Nigeria, Zambia, Zimbabwe, South Africa, and elsewhere, as well as market regulators, including the US Securities and Exchanges Commission. African policymakers, banks such as EcoBank Transnational, Equity Bank and Africa Ex-Im Bank, technology companies, major development institutions, investors and farmer organizations are also expected to attend.

“As global attention has focused on Africa’s agricultural growth and food security, the need for innovative market instruments to bring efficiency and transparency to commodity markets has been a major theme of the G20 Cannes Summit under the French Presidency.”

A lively interaction is anticipated as the convening debates Africa’s positioning in the global commodity market, the role of the state versus the private sector, the financial stakes, the power of information technology, the impact on farmers’ livelihoods, and the issue of price volatility among the gathered experts and high-level delegates.



Source: http://www.newbusinessethiopia.com/