By Geoffrey Wakibi
The East African Exchange is a regional commodity exchange which was established to link smallholder farmers to agricultural and financial markets enabling them secure competitive prices for products and facilitate access to financing opportunities. EAX Rwanda has its trading terminals located on the 12th floor of the Kigali City Tower building, in City of Kigali.
EAX was officially launched in Rwanda as a regional Exchange in Kigali on 14th July 2014 by His Excellency President Uhuru Kenyata of Kenya during the Northern Corridor Integration Project Summit. Backed by the government of Rwanda, and regulated by the Capital Market Authority, the Exchange can provide for national, regional and international buyers, and is able to trade agricultural and nonagricultural commodities through auction or spot contract.
In April 2014, EAX went into a strategic partnership with the Rwanda Ministry of Agriculture and Animal Resources, taking into account their common contribution to linking products to markets and mainstreaming the agricultural economy into a national and regional economy. Under the terms of the memorandum of understanding, set up warehouses equipped with cleaning, drying, grading, weighing and re-bagging facilities in support of farmer cooperative groups across the country. EAX has warehouses in Nyanze, Kayonza, Musanze, Kigali, districts fully equipped with grain processing Enhancing the quality of Rwanda’s grains through structured trading facilities and serving farmers and cooperatives. EAX conducts training and education sessions on the importance of grain quality and standards, warehouse and grain handling operations as well as the exchange’s trading system.