Agegnehu Teshager (right) and other government officials at the inauguration of the ECX trade center in Gondar

The Ethiopian Commodity Exchange (ECX) has officially launched a new electronic trading center in the city of Gondar in the Amhara region. The platform is projected to have the capability of hosting more about 90 different market entities during a single session. 

One of the main positive impacts that the platform is expected to have is the reduction of travel to Addis Ababa for traders in the city of Gondar thereby making trading in Ethiopia more efficient and sustainable. It will also allow those traders to become active participants in modern trading, taking Ethiopia one step closer towards achieving its modernization goals.

This marks the second trading center that ECX has facilitated in less than a year. In May, 2020 the company implemented a trading center capable of hosting upto 50 traders while also facilitating social distancing as part of measures to combat the then-novel COVID-19 pandemic.

Chief Administrator of the Amhara region Agegnehu Teshager was present at the inaugural ceremony and commended ECX and all other parties that made the launch of the platform possible for their diligence and innovation in these troubling times.

In addition to the platform, ECX is also going to be constructing a warehouse in the city of Gondar to further facilitate a seamless trading process. No mention has been made about whether the new platform will be part of ECX’s expansion into the trade of industrial products.

2 Merkato, Walta

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