Commodity Exchange Seeks To Transform Ghana’s Economy

Tucci Goka Ivowi

The Chief Executive Officer of the Ghana Commodity Exchange (GCX), Tucci Goka Ivowi, stated that her outfit is working to transform Ghana’s economy through agriculture.

She made this known in an address to the media at the Information Ministry in Accra on Sunday, July 4, 2021.

According to her, “Our vision is to transform Ghana’s economy through agriculture”.

She stated that there were three priority areas the GCX was working with which include: access to storage, access to market and access to finance.

So far, she said GCX has established 10 warehouses in the country mainly in the Ashanti Region, and Bono Region.

She indicated that the GCX started with trading in Ghana but was now doing cross-border trading with countries like Burkina Faso.

She said the Exchange was ensuring transparency and fairness on the market.

She spoke about infrastructure challenges across the country for the agriculture sector.

She reiterated that it’s about 20 years that the Ghana Commodity Exchange has been in the process.

The Exchange is a private entity, with Government as the shareholder.

She said the Ghana Commodity Exchange will be open to private players.

In 2020, the Ghana Commodity Exchange suffered a lot with other entities due to coronavirus.

The Exchange, she said is regulated under the Securities Industry Act.

According to her, trading under GCX is done online.

GCX, she said, is a membership-based organization and that if people want to trade they first have to become members.

She revealed that GCX worked very closely with the Ministry of Food and Agriculture as well as the Ministry of Trade and Industry.

About 22,000 farmers have gotten better prices for their products through trading with GCX.


By Melvin Tarlue