The Ethiopia Commodity Exchange and NIRSAL Plc have signed a landmark Memorandum of Understanding (MoU) aimed at strengthening agricultural trade systems, expanding commodity financing, and accelerating market integration across Africa.
The agreement, signed after the completion of a technical and strategic training programme hosted by the ECX Academy for a Nigerian delegation, is expected to drive deeper collaboration between both institutions in commodity exchange development, warehouse receipt financing, and agricultural risk management.
Under the partnership, both organisations will work together to integrate quality assurance systems, develop modern digital trading infrastructure, and enhance financial mechanisms capable of reducing risks within the agricultural sector.
Speaking during the signing ceremony, Chief Executive Officer of ECX, Mergia Bayissa, described the agreement as a strategic step towards advancing commodity exchange operations and warehouse receipt financing systems across the continent.
According to him, the collaboration would strengthen transparency, improve market efficiency, and create a more structured trading environment capable of boosting market growth and improving financial flows for farmers, traders, and investors in both countries.
Leader of the Nigerian delegation, Sa’ad Hamidu, said the partnership establishes a solid framework for the exchange of technical expertise and the creation of new trade opportunities between Nigeria and Ethiopia.
He noted that the initiative would help stimulate investments in agriculture while also addressing financing and market risks that continue to limit the sector’s full potential.
The MoU is expected to focus heavily on warehouse receipt financing systems, adoption of modern agricultural trading technologies, and harmonisation of quality standards, with both institutions targeting the development of a more competitive Pan-African commodity market.
