Mozambique Commodity Exchange executive director Edgar Baloi has commended Malawi’s Agriculture Commodity Exchange (ACE) for transforming the lives of smallholder farmers in the country through its programmes.
Baloi, who was leading a Mozambican delegation on a two-day visit to Malawi, said they were particularly impressed with the bridge finance programme, which provides loans to farmers and small traders willing to increase the quantity of agricultural commodity trade, but have no financial capacity.
“We are very impressed with ACE and happy to have been given the opportunity to gain a better insight into the workings of its warehouse receipt system, trade facilitation and market information.
“We were also inspired by the simple, user-friendly technology adopted by ACE trading platform and see this as a significant strength of the exchange,” he said.
The delegation has been to Brazil, Ethiopia, Turkey, South Africa and Malawi to interact and learn from other commodity exchanges.
ACE chief executive officer Kristian Moller said they are excited to be a role model of other commodity exchanges in Africa.