Ghana Commodity Exchange makes giant strides in agric sector

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GCX logo

The Ghana Commodity Exchange (GCX) says access to agricultural produce by the larger Ghanaian population has increased significantly.

Addressing a press conference in Accra yesterday, the Chief Executive Officer, Mrs Tucci Goka Ivowi, said since its inception, her outfit had been able to create the needed connection between Ghanaian smallholder farmers to agricultural and financial markets in Ghana and across West Africa and beyond.

This, she added, is to ensure that Ghana farmers secure competitive prices for their commodities, as well as supply good quality commodities which meet the nutritional needs of the Ghanaian people.

“We started by trading in Ghana for Ghanaian farmers, but in the next phase, when you talk about the region we have started with landlocked countries. We are already dealing in cross border trading with countries like Burkina Faso and Niger. The idea is to bring them formally to the exchange so we are increasing our reach in the West African market, then the wider African market,” she stated.

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Opportunities

“It must be said that it is a platform that is designed to allow us trade globally. Once we decide which future commodities that are destined for global markets, we will be able to link up with other commodity exchanges and trade globally. So we are talking about access to market in Ghana, access to market within the sub-region and access to market in Africa and globally. So it is step by step,” she added.

GCX was established by government in 2018 in line with its vision to modernize agriculture, improve production efficiency, achieve food security, and profitability for Ghanaian farmers.

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She added that the exchange is on track to realizing it goal of connecting Ghanaian farmers to markets and people, and provide opportunities by using the most modern, interactive and appropriate technology.

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