THE Zimbabwe Mercantile Exchange (ZMX) says it is set to benefit from the African Continental Free Trade Area (AfCFTA)’s standardisation and mutual recognition of commodity grades, and prices.
AfCFTA, the world’s largest free-trade area, began trading on January 1, 2021, creating a market of 1,2 billion people.
It is the world’s eighth economic bloc with a combined gross domestic output of US$3 trillion and is predicted to more than double by 2050.
ZMX, together with 15 other commodity exchange firms, recently joined the Association of African Commodities Exchanges (A-ACX), which seeks to establish a framework for the operationalisation of intra-continental commodities trading under the AfCFTA protocol.
Garikayi Munema, ZMX general manager
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.