News | Ghana Commodity Exchange

GHANA COMMODITY EXCHANGE (GCX) AND INTERNATIONAL FINANCE CORPORATION (IFC) IN DISCUSSIONS ON HOW TO IMPROVE PARTNERSHIP

Date : 21st Dec, 2018


GHANA COMMODITY EXCHANGE (GCX) AND INTERNATIONAL FINANCE CORPORATION (IFC) IN DISCUSSIONS ON HOW TO IMPROVE PARTNERSHIP image


On 12th December 2018, GCX hosted a meeting attended by the CEO, Dr. Kadri Alfah, DCEO,

Mrs.Tucci Goka Ivowi, IFC Country Director (Benin, Burkina Faso, Ghana, Niger and Togo), Ronke-Amoni Ogunsulire and Country Lead of the Ghana Warehouse Receipt System Project, Doreen Oppan. This meeting was held to discuss the deepening of the collaboration between GCX and IFC.

 

GCX is currently supported by IFC in collaboration with SECO through the IFC warehouse receipt system project which makes provision for technical assistance and advisory services. This intervention seeks to strengthen the ecosystem and support a well-functioning regulated warehouse system as a pre-condition to support a successful commodity exchange.

The Ghana Commodity Exchange (GCX) is pioneering the first electronic warehouse receipts system in Ghana, which will provide access to finance for smallholder farmers, who use their harvested grains, stored in GCX certified warehouses as a security to obtain up to 70% of the market value of their harvest.

GCX and IFC look forward to a stronger partnership and more areas of collaboration.