ZAMBIA - Zambia Agriculture Commodity Exchange (ZAMACE) has so far certified four warehouse operators with a total of 300,000 tonnes’ storage space.
This follows the full operationalisation last week, which has seen First National Bank becoming a participating bank on the warehouse receipt system.
The four certified warehouse operators are Zdenakie, Limited, Afgri Corporation, CHC Commodities Limited and NWK Commodity Services Limited.
In an interview, ZAMACE executive director Jacob Mwale said the trading platform is working on expanding and transforming its service to generate more benefits to a broader range of buyers and sellers.
The move will also positively affect farmers in rural areas of the country.
ZAMACE is striving to attain its mission of providing an efficient and vibrant agricultural commodity supported by warehouse certification and receipt system that will enhance market access, liquidity and credibility in the commodities market.
“The first warehouse inspections were done from November 22 to 28 2015, that resulted in certifying the four operators, whose total storage capacity is 300,000 metric tonnes for warehouse receipt system,”
“ZAMACE is making progress and we have First National Bank as a participating bank on the warehouse receipt system. ZAMACE will continue engaging other stakeholders for partnerships in various projects such as market information,” Mr Mwale said.
Mr Mwale said ZAMACE will soon start system training for certified storage site operators and later conduct inspection visits for warehouses in Eastern Province that have applied for certification.
ZAMACE has since signed an agreement with JSE Limited for a linkage of a futures contract that will start in six months’ time while Musika Agriculture Development initiative is supporting ZAMACE’s operations towards full commercial operationalisation.
January 4, 2016; https://www.daily-mail.co.zm/?p=54471