ECX Inaugurates Third Online Trading Centre

June 15 , 2019


ECX Inaugurates Third Online Trading Centre

The Ethiopian Commodity Exchange (ECX) has inaugurated the third electronic trading centre in Humera, west of Tigray Regional State. The centre was inaugurated in the presence of Abraham Tekeste (PhD), vice president of the Tigray Regional State, and Fetlework G. Egziabher, minister of Trade & Industry. ECX has invested 10.4 million Br for the centre, of which 7.2 million Br was spent on construction. The remaining was invested in information technology equipment and stationary materials. The European Union has covered half of the budget, while the remaining was contributed from the ECX’s coffers. Lying on 2,000Sqm of land secured from the City Administration for a lease free, the centre has been in a trial phase since April 5, 2019, when it transacted 1,431tn of sesame valued at 86 million Br. ECX is also in the process of constructing a warehouse that can store up to 15,200tn of commodities at Humera with an estimated cost of 40 million Br. There are two more trading centres in Addis Abeba and Hawassa, the capital of the Southern Nations, Nationalities, & Peoples’ Regional State.


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