Crop Exchange Model Impresses Tanzania’s President Jakaya

May 23, 2012

And the best model for Tanzania was the Ethiopian Commodities Exchange (ECX) that impressed President Jakaya Kikwete and his delegation that toured the centre early this month in Addis Ababa, Ethiopia. The President, during the tour, directed the capital markets authority to borrow a leaf from the book of the ECX in the establishment of TCX as it was pro-farmers and not traders.

“There is no need to shop around for the best commodity exchange modalities, you (CMSA) should emulate the Ethiopian model,” Mr Kikwete said. In the tour, the President, who was accompanied by the Bank of Tanzania Governor, Prof Benno Ndulu and Capital Markets and Securities, CEO Ms Nasama Massinda, was briefed on what the best commodity market on the continent has achieved in its four years of existence. Full text