EAST AFRICAN STATES LAUNCHES THE EAST AFRICA EXCHANGE (EAX)

The integration process of the East African states moved a notch higher with the official launch of the East Africa Exchange (EAX) in Kigali, Rwanda. The launch of the EAX through which the establishment of the regional commodity exchange will be facilitated, is aimed at economic transformation and regional integration that will benefit the partner states.

The new initiative will provide a regional commodity exchange that connects buyers and sellers throughout East Africa and one that creates broader access to markets and the global economy. Through the new project, the farmers and traders will connect on price transparency real time.

The five partner states in the project include Kenya, Uganda, Rwanda, Burundi and South Sudan. Ethiopia and Tanzania remained as observers to the Northern Corridor Integration Projects, whose 6th Summit in Kigali provided the platform to launch the EAX.

Kenya’s President, H.E Uhuru Kenyatta rang the bell to officially launch the EAX witnessed by Presidents Paul Kagame (Rwanda), Yoweri Museveni (Uganda), and Salva Kiir of South Sudan. President Kenyatta said the East African Commodities Exchange will greatly assist both businessmen, investors and small farmers who have for long been exploited by middle men.

Additionally, he said, the new financial project will provide fair and decent prices for commodities from regional farmers, stabilize prices of grains and play an important part towards regional food security.

The main goals of the new initiative,..........For further reading follow the link EAST AFRICAN STATES LAUNCHES THE EAST AFRICA EXCHANGE (EAX)

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