The Ghana Commodity Exchange had their premier launch at the Africa Trade Center on the 17th of April, 2024 on the theme, TRANSFORMING COMMODITY TRADING THROUGH STRUCTURAL MARKETS. The programme was geared towards encouraging all businesses within the Agricultural Sector to register within the Ghana Commodity Exchange.
Dr. Brian Acheampong, Minister for Food and Agriculture was present at the proceedings where he spoke about the new order of Trade Liberalisation and Market Liberalisation and how Ghana could leverage on that towards boosting the Agricultural sector. He spoke of how commodities like Maize, Rice and Soya had generated about Ghc280 million within the recent year, created about 200,000 jobs and integrated about 350,000 farmers into the Market. He also stated how the Planting for Food and Jobs will be traded through the Ghana Commodity Exchange.
The Programme was also geared on ensuring price discovery mechanisms, intra African Trade, secure pricing and quality based transactions.
The programme was a successful one as the Ghana Commodity Exchange aims to ensure cost and risk reduction encouragement of financial sector investment in Agriculture, stimulating Agricultural Productivity and Integrity.
The necessary conditions outlined in the programme by the Speakers were
- Ensuring a well functioning and transparent market
- Sufficient volume of Trade to cover fixed costs
- Access to Infrastructure
- Good Governing Structure and Efficient Conflict Resolution Mechanisms
Recommendations also made by keynote speakers also include Engaging Private Sector Actors, Engaging Aggregators, Capitalisation of the GCX, Regulatory Enforcements and Traceability.
AFRICAN VOICES INTERNATIONAL, FREEDOM IN AFRICA
