As part of celebrations to mark its 5th year Anniversary, the Ghana Commodity Exchange (GCX) has organized a symposium under the theme “Transforming Commodity Trading through Structured Markets.”
The event served as a momentous occasion to reflect on the remarkable advancements the Exchange has achieved in revolutionizing commodity trading through structured markets over the past half-decade.
Partnering with IFC and GCB Bank this year to elevate the impact of our initiative, the inaugural edition of our annual event, marks the beginning of a tradition.
Over the past five years, GCX has played a pivotal role in reshaping commodity trading dynamics, fostering transparency, and enhancing efficiency in the market.
This milestone anniversary offered an ideal juncture to acknowledge the collective efforts that have propelled the Exchange forward and to chart a course for continued growth and innovation.
“Government and by extension the Ministry of Food and Agriculture, as you are aware, recently launched the second phase of our flag ship initiative, Planting for Food and Jobs 2.0 (PFJ2.0). Under the PFJ2.0, I am pleased to inform you that, all the grains recovered under the program will be traded through the GCX.
“This is to further signify to us all that the Government is keen in ensuring that commodity trading in Ghana is done in a structured manner”, remarked the Minister for Food and Agriculture, Bryan Acheampong.
The GCX platform will ensure that the grains recovered are stored properly to reduce post-harvest losses, that the grains are sold at the right price through the price discovery mechanism and buyers are given good quality and right quantity for the grains they purchase”.
The symposium, attended by industry experts, policymakers, stakeholders, and esteemed guests, provided a platform for insightful discussions on the evolution of commodity trading.
Participants had the opportunity to delve into the challenges faced, and strategize for the future trajectory of the commodity trading sector.
The CEO, GCX, Setutsi Ivowi shared, “It is important to acknowledge the critical role the Ghana Commodity Exchange plays in advancing the Government’s ambitious agenda to modernize the agricultural sector—a cornerstone of our Nation’s quest for food security, employment creation, and poverty alleviation.
GCX sits in a privileged position at the intersection of trade, agriculture, technology and financial services.
This is a core driver to bridging the gap between the youth and agriculture…. agribusiness is a goalpost for many more people than before.”
Another focal point of the symposium was the panel discussion on “Innovative Financing for Agriculture.
The panel was composed of Robert Dowuona Owoo Esq., Chief Operations Officer, GCX, Joe Emmim, CEO, Adehyeman Savings and Loans, Wonder Adetor, Principal Economist, Ministry of Finance and Linus Kumi – Director, Corporate Banking, GCB Bank PLC, and moderated by Roselyn Siaw – Head Corporate Affairs & Communications, GCX.
The symposium served as an educational platform, enlightening stakeholders and participants on the significant impact of commodity trading through structured markets on the economy.
By fostering transparency, efficiency, and risk management, structured markets play a pivotal role in promoting economic stability and growth.
The Chief Executive Officer of GCX also seized the moment to announce the launch of the GCX Commodity Training & Certification program in partnership with the Ghana Institute of Securities & Investment, slated for its inaugural cohort in June, to underscore the Exchange’s commitment to knowledge dissemination and capacity building in commodities trading.
In attendance was Abena Amoah, Managing Director, Ghana Stock Exchange.
In her concluding remarks, CEO GCX, Setutsi Ivowi stated, “As we chart the course for the future, sustainability remains a central tenet of our mission. We look forward to working with Government agencies in boosting access to markets and contributing to sector and economic growth, as much as we look forward to strengthening policy ties through a strong collaboration with the private sector.”
As the Ghana Commodity Exchange embarks on the next phase of its journey, it remains committed to driving innovation, fostering collaboration, and catalyzing positive change in the commodity trading landscape.
The Exchange looks forward to continuing its transformative work, delivering value to stakeholders, and contributing to the sustainable development of Ghana’s economy.