Agricultural Commodity Exchange (ACE) says the newly trained brokers will help in transforming the lives of smallholder farmers by getting them better prices for their produce, hence improve and generate income for broking activities.
Speaking on the sidelines of certificate presentation to the brokers held at Ufulu Gardens yesterday, Chief Executive Officer for Ace, Kristian Moller said brokers will significantly improve and scale up multi-stakeholder partnerships.
“The agricultural commodity exchange endeavors to develop structured trading system that integrate all market players into the formal market, facilitate trade, reduce price vitality and enhance food security. Ace focuses its operations on three complementing spheres, trade facilitation, implementation of warehouse receipt system and market information dissemination,” he said.
According to Moller the five day training course was designed to introduce the scope of ACE services, to outline the role and responsibilities of the brokers, to deepen participants’ knowledge of trading opportunities and to teach the brokers how to fully operate the ACE system.
A total of 22 individuals received ACE broker certificates.
“Becoming an ACE broker turns an individual into an agent who provides services to ACE clients both buyers and sellers and helps them make successful business decisions and transactions. Brokers build relationships with a solid client’s base in order to increase volumes traded and improve the terms on the contracts.
“Ace is confident that this first wave of brokers will become a vehicle for building a wide spread community of market players that will significantly improve and scale up multi-stakeholder partnership, urban rural collaboration and commodity trading altogether,” he said.
One of the brokers, Towera Masiku commended ACE for stimulating production and training of various agricultural commodities through the exchange saying such a development is bound to put Malawis’ economy on the right path.