Zambia Agricultural Commodities Exchange to reopen

zambia_grain_silos_and_weighing_bridgeGrain silos at Nampamba farm Mpongwe, Zambia. (Image source: Wikimedia Commons)The Zambia Agricultural Commodities Exchange (Zamace) plans to resume trading in May, ending a nine-month suspension

The hiatus was utilised to attract shareholders and ask legislators to pass a bill to regulate and boost trading.

The Zambia National Farmers Union, which represents growers, was among those that may invest in the exchange once it has distributed stock to members through demutualisation, executive director, Brian Tembo, told Bloomberg.

Last year, the Lusaka Stock Exchange expressed interest in a majority stake while the nation’s newly licensed Bond & Derivatives Exchange, based in Lusaka, was, "keen on operating the derivatives side of our market,” Tembo was quoted as saying.

Zamace is a 15-member bourse that was set up in 2007 and provided a trading platform for grains such as wheat, soybeans and sunflowers as well as cement and fertilisers until it suspended operations in August 2011.

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