Online Reporter
Nqobile Bhebhe,Zimpapers Business Hub
THE Zimbabwe Mercantile Exchange (ZMX) continues to gain regional recognition, with Angola’s Debt and Stock Exchange (Bolsa de Dívida e Valores de Angola – BODIVA) seeking to replicate Zimbabwe’s successful model as it lays the foundation for its own commodity exchange.
An Angolan delegation led by BODIVA Chief Executive Officer, Ms Cristina Lourenço, and accompanied by senior ZMX officials yesterday paid a courtesy call on the Permanent Secretary in the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, Professor Dr Obert Jiri, in Harare.
“Their mission was anchored on a knowledge-sharing visit as Angola takes decisive steps towards establishing its own commodity exchange, drawing inspiration from Zimbabwe’s thriving ZMX model,” the Ministry said.
Ms Lourenço expressed admiration for the progress made by Zimbabwe, noting the significance of ZMX as a benchmark for Angola’s aspirations.
“Zimbabwe’s commodity exchange has demonstrated remarkable efficiency and progress, underscoring its importance as a blueprint for Angola’s own journey,” she said.
Professor Jiri took the opportunity to highlight Zimbabwe’s long path towards the establishment of the exchange, stressing the lessons learnt along the way.
“He further explained that the liberalisation of grain trading ushered in a new era of resilience and innovation, culminating in the establishment of ZMX as a corrective measure to previous missteps,” said the Ministry.
The Permanent Secretary applauded the transformative impact of ZMX in strengthening agricultural markets and improving transparency.
He said Zimbabwe was now well-positioned as a continental reference point in building vibrant commodity markets.
“With Angola determined to replicate such success, the visit cemented a path for deeper collaboration and knowledge transfer, positioning Zimbabwe as a vital reference point in shaping Angola’s future commodity exchange,” Prof Jiri said.
Established in 2021, ZMX has become a key platform for agricultural commodity trading in Zimbabwe, enhancing market efficiency, price discovery and broadening farmer participation.
The Angolan visit marks yet another milestone in ZMX’s growing reputation across Africa as countries look to Zimbabwe for models of agricultural market reform and innovation.
The ZMX was designed to curb warehousing and price discovery challenges relating to farmed commodities, which local farmers encounter in their operations.
The initiative also seeks to deal with challenges encountered by farmers in the marketing of their agricultural produce, which include limited and often costly logistics, inappropriate or inadequate storage facilities. The problems resulted in farmers incurring significant post-harvest losses.
ZMX’s system is suitable for trading in a number of farmed commodities including strategic grains, barley, coffee, groundnuts, macadamia nuts, millet, oats, pecan nuts, rapoko, rice, sorghum, sugar beans, tea, cow peas and round nuts.
