President Nana Addo Dankwa Akufo-Addo kicked off a Ghanaian agricultural stock market (GCX) on Tuesday, November 6, a platform to create a market for agricultural products under supply and demand.
Approximately one million farmers will be integrated into GCX and its affiliated store in the next 18 months. Ghana farmers should have access to safe storage for their crops and good warehouse management practices.
At the edge of the launch of this Acre Fellowship, President Akufo-Addo said GCX would be one of the main driving forces of realizing his government's vision of becoming the agricultural center of West Africa. He added that although farmers in Ghana are responsible for feeding a country with about 29 million people, they were not guaranteed guaranteed income for their work and effort.
Some of them have to cope with the volatility of commodity prices, and many have little or no knowledge of the true value of their products. Even worse, most transactions in the agricultural sector are spoken or negotiated. In most cases, there is no formal contractual agreement that would lead to business disputes that undermine our marketing system, "he said.
It is expected that the commodity exchange in Ghana will create about 200,000 jobs for farmers and value chain marketers, said Finance Minister Ken Ofori-Atta.
"The creation of approximately two hundred thousand jobs in highly skilled and unqualified sectors will be open to commodity traders, data analysts, risk managers, management consultants, traders, credit officers, etc. to retailers, repackagers and carriers," he said.
GCX, the first modern commodity exchange in Ghana and West Africa, aims to bring together producers and purchasers of agricultural commodities and commodities to enable them to exchange commodities. quality and standardized to enable them to get the full amount of their wealth.