VOICED : Ethiopia hopes to pave the way

The Ethiopia Commodities Exchange, established in 2008, revolutionized the trading of commodities like coffee, sesame, and maize by eliminating middlemen and ensuring prompt payment to farmers. It has significantly impacted Ethiopia's economy, being a major export earner. Despite its success, challenges like limited warehouse space and supply chain inefficiencies persist. The exchange has inspired other African nations to improve market access for their producers, with hopes for a continent-wide commodities exchange in the future.

What is the primary benefit for farmers using the Ethiopia Commodities Exchange?

• They get free storage for their commodities.

• They can export their products internationally.

• They receive payments the next day without middlemen.

• They can sell their products at a higher price.

How has Tomoka benefited from the Ethiopia Commodities Exchange?

• By exporting coffee beans internationally.

• By receiving a wider variety of quality coffee beans.

• By reducing the cost of coffee production.

• By eliminating the need for coffee roasting.

What is a major challenge faced by the Ethiopia Commodities Exchange?

• High taxation on commodities.

• Limited warehouse space.

• Lack of international recognition.

• Inconsistent coffee quality.

Which African countries have been inspired by Ethiopia's commodities exchange model?

• Ghana and Ivory Coast

• Morocco and Algeria

• Nigeria, Kenya, Uganda, and Zambia

• South Africa and Egypt

What is the long-term vision for commodities exchanges in Africa?

• To eliminate all middlemen in trade.

• To have a single African currency for trade.

• To establish a continent-wide commodities exchange.

• To focus solely on coffee trading.