The Ghana Commodity Exchange has indicated that it will use technology to connect with farmers, markets and buyers to trade in commodities.

According to the Chief Executive Officer, Tucci Goka Ivowi, her outfit has created a modern and interactive marketplace where all stakeholders can trade in any part of the country, at any time.

Speaking at a press conference, she disclosed that special training and assistance would be given to farmers who are not able to operate the platform.

Mrs. Ivowi while updating the public on the progress of the exchange also stated that GCX is positioned as a national and regional body to formalize both the national and West Africa’s agricultural sector as a whole.

She revealed that the GCX since its inception in 2018 has created the necessary connection between smallholder farmers and financial markets in and around Ghana. However, she says the aim is to reach West Africa and beyond.

“We started by trading in Ghana for Ghanaian farmers but in the next phase, we are targeting the landlocked countries. We are already dealing in cross-border trading with countries like Burkina Faso and Niger. The idea is to bring them formally to the exchange so we are increasing our reach in West African market and then the wider African market,” she said.

Tucci Goka Ivowi also said the birth of the organisation has helped reduce post-harvest losses, improved quality in crops, lower transaction costs, among others.. According to her, the achievement is a result of initiatives like the warehouse receipt system and the contract signing system.

The Exchange has a membership base of 220, 116 are brokers, 67 are associate members and 37 trading members.