Roundup: Ghana's commodity exchange center eyes transforming Africa's socioeconomic development
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E-mail Xinhua, September 3, 2019
by Peter Adofo-Asante
ACCRA, Sept. 2 (Xinhua) -- Ghana's Minister for Food and Agriculture Owusu Afriyie Akoto said here Monday the country's Commodity Exchange Centre would be the trump card to transform socioeconomic development of the country and the rest of the continent.
In an interview with Xinhua, the minister said the center, the first in Africa, would sell grains, coffee and cocoa within Africa and the external markets for competitive advantage.
"Ghana has established the commodity exchange center. So all these infrastructure is to invite our other ministers from Africa to come and trade on that. Because, at the end of the day, in that exchange, we are not only going to trade in grains but also trade in our own cocoa on it," he said.
He asked Nigeria, Cote d'Ivoire and the rest of the continent to come on board to ensure its success.
Akoto informed Xinhua about this at a day's New Leadership for Africa platform held in the Ghanaian capital, Accra.
He said Ghana wanted to be the trade hub in Africa to champion intra-business transactions on the continent and also explore technological advantage to increase yields in crops for food sustainability.
A director at the African Development Bank (ADB), Martin Fregene, said at the forum that African governments should stop giving waivers to rice and maize importers to protect smallholder farmers on the continent.
He said Ghana was a pace setter in the Feed Africa project through the numerous agricultural-oriented programs aimed at increasing food production.
"I want presidents in Africa to tell their ministers of finance to stop the waivers for rice and maize sellers in order to protect smallholder farmers because this is taking away the markets of smallholder farmers. Ghana is at the forefront of the Feed Africa Program," he said.
Fregene said Ghana's sterling example in the introduction of many flagship programs in agriculture would guide the participating countries to follow suit.
He said the meeting was held to share experiences with participating countries and strategize to achieve enhanced food production, increased price for smallholder farmers and reduce poverty on the continent. Enditem
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