President Nana Addo Dankwa Akufo-Addo launched on Tuesday, November 6, the agricultural exchange of Ghana (GCX), a platform to create a market for agricultural products under the law of supply and demand.
One million farmers will be integrated into GCX and their affiliated warehousing system in the next 18 months. Ghanaian farmers would have access to safe storage for their crops and good storage management practices.
On the sidelines of the launch of this Accra stock exchange, President Akufo-Addo said that GCX would be one of the main drivers of realizing his government's vision of becoming the agricultural center of West Africa. He added that while Ghanaian farmers are responsible for feeding a country of about 29 million people, they were not sure of guaranteeing guaranteed revenues for their work and efforts.
For their part, some of them have to deal with the volatility of commodity prices and many have little or no knowledge of the real value of their products. Even worse, most transactions in the agricultural sector are by word of mouth or through negotiation agreements. In most cases, there is no formal contract agreement that results in commercial disputes that undermine our marketing system, "he said.
Ghana Commodity Exchange is expected to create about 200,000 jobs for farmers and value chain traders, said Finance Minister Ken Ofori-Atta.
"The creation of about two hundred thousand jobs in highly qualified and unskilled sectors will be open to merchandise traders, data analysts, risk managers, management consultants, traders, credit agents, among others. Winnowers, repackers and chargers, among others, "said the minister.
GCX, the first modern commodity exchange in Ghana and West Africa, aims to link producers and buyers of agricultural products and goods, and allow them to exchange merchandise. quality and standardization so that they can obtain all their riches.