daniel chigunwe
Edgar Vhera
Agriculture Specialist Writer
THE Zimbabwe Mercantile Exchange (ZMX) is working with financiers in banking, pension fund and insurance industries to guarantee sufficient liquidity for commodity sales on their trading platform for the 2025 agricultural marketing season.
ZMX chief executive officer, Mr Collen Tapfumaneyi revealed this while giving an update on preparations for the upcoming agricultural marketing season.
“With liquidity having been a major hindrance to trading activities in recent times, ZMX is working with financiers in the banking, insurance and pension fund industries to ensure there is sufficient liquidity to support commodity trading.
“This will ensure farmers are paid expeditiously while buyers such as agro-processors will be capacitated to offtake the commodities to their maximum requirements,” he said.
The rains currently pounding most parts of the country have raised hopes of improved local grain and other commodity harvests for the upcoming agricultural marketing season.
Mr Tapfumaneyi said his organisation was geared for the anticipated improved local grain supply this marketing season.
“ZMX is working with various stakeholders to increase storage capacity, including increasing the number of warehouse distribution points across provinces to meet market demand effectively. This is aimed at enhancing utilisation of the warehouse receipt system (WRS),” he explained.
In the outlook, ZMX aims to expand its warehouse facilities significantly and increase the number of aggregation centres in each district.
“We are also working with farmer organisations and other key stakeholders in order to register a substantial number of farmers on our platform and conduct awareness campaigns to improve access to the exchange for all stakeholders plus facilitate enhanced trading through our weekly auctions,” he added.
Meanwhile, ZMX is ready for the upcoming annual African Continental Free Trade Area (AfCFTA) Association of African Commodity Exchanges (A-ACX) conference to be held in the country from March 26 to 27.
“The conference presents a strategic opportunity for Zimbabwe to enhance its economic position, foster regional collaboration, enhance visibility and open up multiple avenues for growth and collaboration in the commodities sector while promoting sustainable growth within the African continent,” he highlighted.
The hosting of the event in Zimbabwe is a thumbs up to ZMX, which was launched in 2021 before joining the A-ACX in 2023 and had its CEO appointed to its steering committee.
Mr Tapfumaneyi said hosting the conference highlighted Zimbabwe’s growing role in the continental commodities market.
“This reflects the country’s increasing importance as a player in trade and economic development within Africa, as well as commitment to AfCFTA goals,” he noted.
The AfCFTA is a major African economic integration initiative whose objectives include boosting intra-African trade and promoting economic resilience across the continent.
Sixteen leading African commodities exchanges united to form AfCFTA A-ACX to advance intra-African trade and collaboration in 2023.
The ZMX boss said the conference provided Zimbabwe with an opportunity to showcase its contributions to the African commodities market, particularly its innovative frameworks and strategies for market development.
“As the host country, Zimbabwe stands to benefit from potential investments in its natural resources and commodities sectors, which are crucial to the economy. The event offers a platform for global investors to explore opportunities in Zimbabwe’s market,” he said.
The conference will bring in delegates from across Africa, benefiting Zimbabwe’s tourism and hospitality sectors.
Local stakeholders will have the chance to engage with international experts, gaining insights and skills that can help develop Zimbabwe’s commodities market further.
Online Reporter