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Nigeria, Rwanda to collaborate

04 June 2014, 15:12

Lagos - Nigeria and Rwanda would collaborate and share information on the development of their commodities exchange.

Director General, Securities and Exchange Commission (SEC), Arunma Oteh, made this known during a visit to the East African Exchange (EAX) in Kigali, Rwanda.

According to her, the visit to the EAX was to look into the Exchange’s operations and its achievements since it began operations in 2013.

Referencing the Abuja Securities and Commodities Exchange (ASCE), Oteh said Nigeria has a similar effort like the EAX and the two countries can share common experiences.

She commended EAX for its initiatives to support smallholder farmers to reduce post-harvest losses and improve their income as well as progress in linking commodity markets across the East African community area.
She also expressed delight at the activities of EAX in promoting cross border trade across the region.

Chief executive officer, East Africa Exchange, Paul Kukubo briefed the delegation on the Exchange’s current activities in Rwanda and expansion strategies for the East African region.

He noted that the Exchange is focused on expansion in the region by launching new offices in Kenya and Uganda.

He outlined that the Rwandan government has recently made available 13 warehouses located in several grain production sites of the country in support of farmer cooperative groups.

According to him, the Exchange will support farmers to address post-harvest losses through better storage and collateral management.

He added that EAX has signed up Collateral Management International, a highly reputable collateral manager worldwide to support the farmers in addressing post-harvest losses and improve farmer’s income.

-   NAN

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