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The Nairobian

Presidents to unveil grain exchange

Business

By Nicholas Waitathu | Jul 03, 2014

Small-scale farmers and traders will soon start to benefit from competitive prices for their produce following the launch of an agricultural commodity exchange in the region.

Today, three presidents - Uhuru Kenyatta of Kenya, Uganda's Yoweri Museveni and Paul Kagame of Rwanda will launch a regional common commodity exchange in Kigali.

The East Africa Exchange (EAX) mid-last year launched the common commodity exchange in Rwanda. A similar initiative was launched in Nairobi early this year.

The three heads of State will unveil the new trading platform during the 6th Northern Corridor Integration Project Summit.

On Tuesday, technical teams met and reviewed ongoing projects and forwarded recommendations to the council of ministers. The minsters will hand over their reports to the heads of State summit being held in Serena, Kigali Hotel. Some of the projects that have been assessed include the standard gauge railway line expected to connect Kigali to the Mombasa port through Uganda.