Online Reporter
Patience Maturure, Agriculture Reporter
ZIMBABWE’S Mercantile Exchange (ZMX) is gaining recognition across Africa, with Angola’s Debt and Stock Exchange (Bodiva) seeking to replicate the model as it establishes its own commodity exchange.
A knowledge-sharing visit by an Angolan delegation, led by Bodiva chief executive Cristina Lourenço, to Zimbabwe marked a significant step towards deeper collaboration and knowledge transfer between the two countries.
Permanent Secretary in the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, Professor Obert Jiri, expressed his satisfaction with the progress made.
“I’m happy that we are now looking at another level where you are seeing this opportunity. We used to have a commodities exchange, which collapsed when we began controlling the trading of grain,” he said.
Professor Jiri noted that ZMX had demonstrated remarkable efficiency and progress, serving as a blueprint for Angola’s aspirations.
“Zimbabwe’s journey to establishing a commodity exchange was marked by past setbacks, but the liberalisation of grain trading ushered in a new era of resilience and innovation, culminating in the establishment of ZMX.
“The last two years have seen us running with it and implementing it. There are legal instruments that you may need to ensure that the commodities exchange operates effectively,” he said.
He said that the exchange had played a crucial role in strengthening agricultural markets and improving transparency.
“Our journey has been exciting, and we hope that you find yours equally rewarding. We, of course, invite you again and again, and we will assist wherever we can. It is an exciting journey which I hope you will find useful,” he said.
Ms Lourenço said the delegation’s mission was to gain a deeper understanding of Zimbabwe’s commodities exchange model, particularly the role of the Ministry of Agriculture in enabling the exchange to function.
“We are here in Zimbabwe to better understand how the commodities exchange operates,” she said.
She said that the delegation was impressed by the practical aspects of Zimbabwe’s model, including the ministry’s involvement in plant quarantine and warehouse certification.
“Our main interest stems from the fact that, just like in Angola, our regulator does not permit the stock exchange to trade commodities. So we heard about the model in Zimbabwe and how the Ministry of Agriculture played a vital role in enabling the commodities exchange to exist.”
Despite their financial background, the delegation recognised the importance of the ministry’s role in supporting the exchange.
“We do not have an agricultural background; as you can imagine, it is mostly a finance background. But even so, it has been critical for us to understand how plant quarantine contributes to warehouse certification and all the other functions the Ministry of Agriculture performs to enable the commodity exchange,” she said.
