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Ethiopia Commodity Exchange

2008 establishments in EthiopiaCommodity exchangesCompanies of Ethiopia
Dr Eleni Gabre Madhin (ECX)
Dr Eleni Gabre Madhin (ECX)

The Ethiopia Commodity Exchange (ECX) is a commodities exchange established April 2008 in Ethiopia. In Proclamation 2007-550, which created the ECX, its stated objective was "to ensure the development of an efficient modern trading system" that would "protect the rights and benefits of sellers, buyers, intermediaries, and the general public." The ECX is set up as a private company owned by a partnership of the market actors, members of the exchange, and the Ethiopian government, led by Eleni Gebre Medhin a former economist for the International Food Policy Research Institute and the World Bank. As of July 2011, the physical presence of the ECX consists of 55 warehouses in 17 regional locations. It has grown from trading 138,000 tons in its first year to 508,000 tons in its third year, with nearly equal shares of coffee and oilseeds and pulses. The value of the ECX rose 368% between 2010 and 2011 to reach US$1.1 billion. As of November 2010, the trading floor in Addis Ababa handled 200 spot contracts in commodities such as coffee, sesame, navy beans, maize and wheat. It was assessed in July 2011 that membership equaled 243 with clients, who trade through members, about 7,800. Farmer cooperatives represented 2.4 million smallholder farmers, which make up 12% of the membership.Currently, the ECX is the only stock or commodity exchange in Africa to have streamlined payment transfers down to "T+1" (ext day payment after a trade) from its clearinghouse to its partner commercial banks. Market data reach is expansive. "Push" price date is transmitted in real time to outdoor electronic ticker boards in 32 rural sites, the ECX website, 256,000 mobile subscribers via instant messaging, the radio, TV and print media. "Pull" market data is available through a toll-free phone-in service. The service received more than 1 million calls in September 2011, 70% coming from rural callers.The first year of the Ethiopia Commodity Exchange's existence is documented in the PBS Wide Angle film The Market Maker.

Excerpt from the Wikipedia article Ethiopia Commodity Exchange (License: CC BY-SA 3.0, Authors, Images).

Ethiopia Commodity Exchange
Ras Mekonnen Avenue,

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N 9.011 ° E 38.747 °
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ቡናና ሻይ ባለስልጣን

Ras Mekonnen Avenue
9752 , Legahar
Addis Ababa, Ethiopia
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Dr Eleni Gabre Madhin (ECX)
Dr Eleni Gabre Madhin (ECX)
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St. Mary's University (Addis Ababa)

St. Mary's University, established in 1998, is an Ethiopian institution of higher learning located in the capital Addis Ababa. After fifteen years of service as a college first and a university college since 2008, it earned university status from the Ethiopian Ministry of Education in September 2013. The university has four campuses in Addis Ababa, 13 Distance Education Regional Centers, and 160 Coordination Offices throughout the country. It has 200 full-time academic staff and 1000 employees. It caters to the needs of six thousand undergraduate students, twenty thousand students enrolled in distance education programs, and two thousand students in graduate programs. Eight graduate programs are run in partnership with Indira Gandhi National Open University. These programs include Business Administration, Public Administration, Library and Information Science, Sociology, Economics, Commerce, Rural Development and Political Science in the distance mode of learning. In the conventional mode of learning, St. Mary's is accredited for ten graduate programs: MBA, HRM, Project Management, Accounting and Finance, Marketing management, Development Economics, Computer Science, Agribusiness, Agricultural Economics and Rural Development. The university has a testing center that provides standardized tests, job placement tests, and international tests such as the IBT- TOEFL and GRE. St. Mary's has opened a K-12 school that is widening its reach in the realms of general education.