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GWAYSB1   2400  -  0 
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News | Ghana Commodity Exchange

GCX signs MOU with GWA for silobag grain storage

Date : 24th Oct, 2019


GCX signs MOU with GWA for silobag grain storage image


 

Ghana Commodity Exchange signs MOU with Grain West Africa Company Limited for food security

 

26/09/19

 

Ghana Commodity Exchange (GCX) and Grain West Africa Company Limited (GWA) have signed a Memorandum of Understanding (MOU) to enhance the operations of the Exchange especially in the area of food storage.
 

GWA is a Ghanaian commodities management company for the storing of grains using leading edge Silo Bag storage systems. As part of this MOU, excess stock of GCX grains traded by its farmers and aggregators will be stored in the GWA silobags which have a maximum storage duration of 4 years, for long-term bulk storage, hence providing a much more cost-effective means of storage.

 

The CEO of GCX, Dr Kadri Alfah stated “it is great to finally formalise the collaboration between GCX and GWA and we cannot wait to work together to the mutual benefit of both institutions.”

 

The CEO of Grain West Africa (GWA), Mr Alex Kwabena Wiafe, highlighted that the signing symbolised a serious commitment, stating that  “With GWA’s advanced Silo Bag grain storage technology and GCX’s trading platform we would truly revolutionize and make Ghana the epicenter for food security in West Africa”.

 

In addition to the primary purpose of providing secured storage, GCX and GWA’s operations are expected directly and indirectly to create over 10,000 jobs, as it’s storage technology of 4 years will give farmers the confidence to harvest more during the year knowing their produce will be securely stored in GCX certified warehouses and the GWA anaerobic bags. It will also encourage the youth to stay within their respective native districts and sought careers in Agribusiness.

 

Mr Alex Kwabena Wiafe stated “staff employment will be shared between GCX and GWA, with the partnership directly and indirectly creating thousands of jobs”.

 

GWA is a Ghanaian commodities management company for the storing of grains using leading edge Silo Bag storage systems. GWA has a three-fold plan to become a high-volume manager for the storage of maize and other grains in Ghana. Expand throughout the ECOWAS, and thirdly to provide their services to the cocoa industry in Ghana and Cote d’Ivoire.

 

The Ghana Commodity Exchange provides a modern, efficient and risk-free trading solution in Ghana and West Africa in support of agricultural development and capital markets.  GCX strives to transform Ghana’s agriculture by linking smallholder farmers and other value chain actors to both national and international markets while providing daily access to accurate and reliable price information which helps to enhance trading decisions, access to secured storage, prompt payment within 24 hours, guaranteed quantities and quality of commodities for buyers and access to a ready market (buyers and sellers) through the Exchange platform

 

For more information on GWA kindly contact Alex Wiafe, at

0241880071 or email alexwiafe@yahoo.com.au

 

To know more about GCX, kindly contact Roselyn Siaw on

020-111-0449 or email contact@gcx.com.gh