Addis Ababa: The Ethiopian Commodity Exchange (ECX) has today officially launched an online trading system and laid the cornerstone for the construction of a 24-story multipurpose headquarters. Trade and Regional Integration Minister Kassahun Gofe participated in the foundation-laying ceremony alongside the CEO of ECX, Wondimagegnehu Negera.
According to Ethiopian News Agency, the Minister emphasized that the new headquarters will be equipped with modern technology to provide competitive services. Efforts are being made to modernize the market system, foster foreign trade, and enhance competitiveness.
ECX CEO Wondimagegnehu Negera stated that the online trading system aims to increase accessibility and transparency, while maintaining the quality of products during trade exchanges. This system will enable buyers and sellers to conduct transactions from any location, whether domestic or international.
The introduction of the online trade service is expected to make the trading system more inclusive and competitive through an updated modern market system. Negera noted that ECX has been offering exchange services for 26 products and is enhancing efforts to modernize the trading system and introduce new products.
This implementation of direct online trading is part of the Digital Ethiopia 2025 initiative. In alignment with the diversification of ECX’s products, such as mining and industrial products, a new logo will replace the old one.