Through its
In line with this, the
"As part of the delivery of the WRS project we are providing technical support to FINSEC," said project leader with the World Bank Augustine Sangson Langyintuo by email.
The ZMX is a partnership between Government and the private sector led by FINSEC,
The exchange was initially scheduled to launch end of March but postponed to end of this month.
"An international consultant was hired to provide the following services to FINSEC towards and launch and operationalisation of the exchange (such as) appraise the operationalisation of an exchange including risk assessment and mitigation; "Review of FINSEC's processes, procedures, rules and various documentation pertaining to the operations of the exchange; and building the capacities of FINSEC operational staff on the management of commodity exchange and trading platform," he said.
According to the
As efforts to launch intensify, the
Plans are under way for extensive awareness creation among stakeholders, especially farmers on the warehouse receipts systems and mercantile exchange.
Locally, the
This will address one of the challenges that farmers face, especially small scale that is post harvest losses due to lack of proper storage facilities.
With the (WRS) farmers are guaranteed of good storage facilities for their commodities although they will bear the cost of storage as well as transportation to the warehouses.
Further assistance in research and policy formulation was drawn from the
Among other milestones towards launching, the ZMX finalised on-boarding of participants on the platform, for instance custodian and settlement banks, farmers, warehouse receipt financiers, commodity off takers and end users, regulators, quality inspectors and warehouses among others have been on-boarded.
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