Ethiopia Commodities Exchange (ECX) is undergoing a digital transformation with the launch of a new electronic trading system next year.

While an official launch date remains undetermined, the software is being actively improved to be made available in the 2024/25 fiscal year. Previously, customers could only trade electronically at six designated centers across the country. The new system, however, will allow seamless online transactions from anywhere in Ethiopia, eliminating the need to visit physical locations.

This shift to online trading comes after 16 years of operation. Since its inception, ECX has facilitated the trade of 8 million metric tons of grain worth over Birr 384 billion.

In related news, ECX surpassed 2 million quintals of commodities valued at over Birr 23.7 billion in sales over the past 11 months. Looking ahead, it plans to introduce electronic trading for niger seeds, beans, and chickpeas in the coming year. Additionally, a draft for marketing beer barley has been finalized and will be implemented soon.

Source: Ethio FM 107.8