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The Ethiopian Commodity Exchange (ECX) has fully implemented an online trading system, allowing market participants to trade agricultural commodities remotely for the first time, officials said.
The digital platform, introduced in April, enables traders to buy and sell from any location without physical contact. ECX says the system is designed to improve efficiency, transparency, and reliability, and aligns with the government’s broader “Digital Ethiopia” agenda.
Since going live, the platform has handled 27,830 metric tons of commodities worth 12.5 billion birr ($206 million), according to ECX data.
The exchange, established to modernize agricultural trade and increase trust among buyers and sellers, said the digital rollout is helping farmers, producers, exporters and international buyers access markets more easily.
As part of broader efforts to strengthen financial infrastructure, ECX signed Sidama Bank as its 26th payment partner on May 15. The agreement was signed by ECX CEO Mergia Baisa and Sidama Bank President Tadesse Hatia at the exchange’s headquarters.
Under the payment system, which ECX says has operated for 17 years without disruption, funds from buyers’ bank accounts are transferred directly to suppliers the day after a transaction. Officials say the new partnership will help streamline settlements and increase accessibility for traders.
The move comes as Ethiopia pushes to digitize trade and payment systems across its economy to boost competitiveness in export markets.
Read More: Ethiopian Commodity Exchange Launches Fully Online Trading Platform
