GAPWM3   1100  -  0 
GEJWM1   1240  -  0 
GEJWM2   1200  -  0 
GEJWM3   1110  -  0 
GEJWM4   1000  -  0 
GEJYM2   1240  -  0 
GEJYM3   1000  -  0 
GKIWM3   1200  -  0 
GKUWM1   1480  -  0 
GKUWM2   1400  -  0 
GKUWM3   1100  -  0 
GKUWM4   1100  -  0 
GKUYM1   1480  -  0 
GKUYM3   1160  -  0 
GKUYM4   1080  -  0 
GSAWM1   1300  -  0 
GSAWM2   1340  -  0 
GSAWSS4   5400  -  0 
GSAYM1   1340  -  0 
GTAWM2   1340  -  0 
GTAWM3   1384  -  0 
GTAWM4   1100  -  0 
GTAWSO3   1550  -  0 
GTAYM1   1480  -  0 
GTAYM2   1100  -  0 
GTAYSB1   2000  -  0 
GTAYSB2   2000  -  0 
GWAWM1   1340  -  0 
GWAWM2   1340  -  0 
GWAWM3   1400  -  0 
GWAYM1   1479  -  0 
GWAYM2   1340  -  0 
GWAYSB1   2000  -  0 
GWEWM1   1340  -  0 
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GWEWM4   1000  -  0 
GWEYM1   1340  -  0 
GWEYM2   1340  -  0 

News | Ghana Commodity Exchange


Date : 2nd Dec, 2019


          CEO & DCEO of GCX in picture with some smallholder farmers



 Ghana Commodity Exchange with ARB Apex Bank Launches Electronic Warehouse Receipt Financing with GHS 50million For Ghanaian Smallholder Farmers



Kumasi, 30th October 2019


At a launch event held in Kumasi on the 30th of October, 2019, Ghana Commodity Exchange, with the collaboration of ARB Apex Bank, launched the electronic warehouse receipt (e-WR) financing program. This marks a historic moment in Ghana! ARB Apex has set aside over GHS 50 million to commence the program. This is the start of the provision of credit / loans to farmers, based on their GCX electronic warehouse receipt. In other words, farmers don’t need to pledge houses and cars for use as collateral; their commodities deposited into a GCX certified warehouse are enough. This is being done “to achieve the goal of true development of the agricultural value chain and improve the lives of rural communities” stated the CEO of GCX Dr. Kadri Alfah. “Greater access to financing and a diverse set of credit facilities is critical,” he continued.

On extreme right, Dr. Kadri Alfah CEO-GCX, followed by Mr. Kojo Mattah CEO – ARB Apex with other managers from the ARB Apex team looking on.


ARB Apex bank is the first partner bank of GCX to have issued loans to farmers using their commodities stored at a GCX certified warehouse as collateral and have estimated two hundred thousand (200,000) farmers to benefit from this novel product in the first year with room for upscaling significantly once concept takes root.

“Even though the RCBs have been lending to the Agricultural sector, this collaboration provides an opportunity for the RCBs to upscale and lend to more farmers since the risk in this system is nearly eliminated.” Mr. Kojo Mattah, the CEO of ARB Apex Bank said.


The CEO of GCX, Dr. Kadri Alfah remarked, “This will give Ghanaian farmers the working capital they need to sustain their business activities in between each harvesting season as well as give them greater purchasing power for seeds, fertilizers and other inputs”. 


The operations of the Ghana Commodity Exchange solves numerous problems that have confronted Ghanaian farmers and their markets for years; problems ranging from post-harvest losses, sale of unstandardized commodities, being price-takers, delayed payment for commodities sold and inability to access credit due to collaterals demanded from banks. Also present to pledge their support was the IFC World Bank Group with financial support from the Swiss State Secretariat for Economic Affairs (SECO). Mrs. Doreen Oppan, the Project lead for Ghana WRS in an address said “The IFC Ghana WRS Project- a technical assistance project- would continue to jointly facilitate technical support, capacity development and education activities for the rural and community banks and their network of farmers.”


Director of the Ashanti Regional Coordinating council, Mr. Ebenezer Ntow Ayisi who was present at the launch event said; “The innovations on offer from the Ghana Commodity Exchange can indeed only be described as providing a totally different future for agriculture in Ghana….A future where farmers and buyers have the opportunity to apply grading standards to their produce, obtain suitable prices for their wares and now a future where farmers can go into banks to obtain loans.”


The Exchange encourages banks and other financial institutions to participate in warehouse receipt financing because it offers the opportunity to minimize the risk of loss of value of the collateral (stored commodity) by monitoring movements in its market value and using margining and price risk management instruments with up to date market data analysis and notifications. Loss of value is further minimised due to the structured regular inspection carried out by an FDA-approved GCX warehouse operator to ensure that the stored commodity retains its value.


The work of the Ghana Commodity Exchange in facilitating high quality, certified commodities, providing secured storage and structured trading services with price discovery, and providing smallholder farmers with the opportunity to benefit from the warehouse receipt financing scheme is the transformation we have all waited for the agricultural sphere.


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