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9 July 2014

     Kenya’s President Uhuru Kenyatta, Tony O. Elumelu and Emmanuel Hategeka, Rwanda’s Permanent Secretary of the Ministry of Trade and Industry, at the launch of the East African Exchange in Kigali.

Kenya’s President Uhuru Kenyatta, Tony O. Elumelu and Emmanuel Hategeka, Rwanda’s Permanent Secretary of the Ministry of Trade and Industry, at the launch of the East African Exchange in Kigali. --Tim Newbold (c/o Wall Street Journal)

Africa Exchange Holdings has introduced the East Africa Exchange (EAX) at the 6th Northern Corridor Integration Projects Summit in Kigali, Rwanda. His Excellency Presidency Uhuru Kenyatta of Kenya launched the regional exchange.

Established by Tony O. Elumelu, CON, of Heirs Holdings, Nicolas Berggruen of Berggruen Holdings, Dr. Jendayi Frazer of 50 Ventures and Rwandan investment company Ngali Holdings— the EAX is a commodity exchange that aims to increase regional market efficiency and give the growing population, particularly smallholder farmers, better access to commercial markets.

Nicolas Berggruen said, “EAX is complementing the EAC’s goal of regional economic integration, and putting in place a world-class exchange to create a globally competitive market for Africa’s commodities.”

Speaking at the launch, Dr. Jendayi Frazer said, “The EAX has the capacity to facilitate cross border trading of commodities within the EAC, providing a central marketplace, connecting buyers and sellers throughout the region. To be a true regional exchange we are also opening up for regional investors so we can become East-African owned.”  --BizTech Africa

25 November 2013
The recently operational East Africa Exchange (EAX) concluded the first regional trade auction from its Rwanda head office, successfully selling 50 metric tons of maize at 398 USD per metric ton between a Ugandan seller and Rwanda buyer. The auction took EAX one step closer to its ambition to create "one African market" and has given further credence to the importance of regional commodity trading.

Logo Heirs Holdings: is owned by African Exchange Holdings (AFEX) which was formed by Tony Elumelu's Heirs Holdings , Berggruen Holdings and 50 Ventures to develop a network of commodity exchanges across Africa to transform trade dynamics and ensure higher incomes for the rural poor. EAX, the first AFEX exchange is the first regional commodities exchange established to link smallholder farmers with agricultural and financial markets, secure competitive prices for their products and facilitate access to financing opportunities.

AFEX Chairman Tony O. Elumelu, CON, said, "East Africa Exchange's successful first auction is a powerful demonstration of the tremendous value that can be unlocked through this platform. EAX will continue to advance the competitiveness and integration of East Africa's agricultural markets, as well as bringing tangible improvements to the lives of the region's farmers. We are looking to replicate this impact in many countries across Africa."

With a brand new trading platform, powered by NASDAQ, the East Africa Exchange (EAX) has big plans to transform the way small farmers and traders do business within the East African region and beyond. It will provide global market access to local farmers through proven technology.

In the days prior to this first auction, local traders were required to visit EAX offices and undergo training on the NASDAQ OMX electronic trading platform. Over the past four months, the EAX has trained over 50 local and regional traders on the new technology.

The exchange will be a marketplace offering price transparency and wider market access to farmers from across East Africa and beyond.

20 September 2013

L-R: Roderick Grandelet-Blondin, former Head, South African Futures Exchange; Tony O. Elumelu, Chairman, African Exchange Holdings (AFEX); Dr Akinwunmi Adesina, Minister of Agriculture; and Benjamin Dikki, Director-General, Bureau of Public Enterprises, at the signing of a public-private partnership between AFEX and the Federal Ministry of Agriculture to create a national warehousing receipts system, at the Transcorp Hilton, Abuja, September 4, 2013