AFM and the AfCFTA-ASSOCIATION OF COMMODITIES EXCHANGES (A-ACX) signed a MoU establishing a framework for closer cooperation between the two organizations.
This MoU lays the foundation for joint initiatives in capacity building, market development, research, technical assistance, and greater visibility of futures and commodity markets across Africa and globally.
The virtual signing included remarks from AFM President Chris Sturgess, A-ACX Chair Collen Tapfumaneyi, and AFM Chairman Pat Kenny.
“𝑂𝑢𝑟 𝐴𝑓𝑟𝑖𝑐𝑎𝑛 𝑐𝑜𝑢𝑛𝑡𝑒𝑟𝑝𝑎𝑟𝑡𝑠 𝑠ℎ𝑎𝑟𝑒 𝑡ℎ𝑒 𝑠𝑎𝑚𝑒 𝑝𝑎𝑠𝑠𝑖𝑜𝑛 𝑓𝑜𝑟 𝑖𝑚𝑝𝑟𝑜𝑣𝑖𝑛𝑔 𝑚𝑎𝑟𝑘𝑒𝑡𝑠, 𝑎𝑛𝑑 𝑡𝑜𝑔𝑒𝑡ℎ𝑒𝑟 𝑤𝑒 𝑐𝑎𝑛 𝑠𝑡𝑟𝑒𝑎𝑚𝑙𝑖𝑛𝑒 𝑜𝑝𝑝𝑜𝑟𝑡𝑢𝑛𝑖𝑡𝑖𝑒𝑠, 𝑖𝑚𝑝𝑟𝑜𝑣𝑒 𝑝𝑟𝑜𝑐𝑒𝑠𝑠𝑒𝑠, 𝑎𝑛𝑑 𝑠𝑡𝑟𝑒𝑛𝑔𝑡ℎ𝑒𝑛 𝑐𝑜𝑙𝑙𝑎𝑏𝑜𝑟𝑎𝑡𝑖𝑜𝑛 𝑖𝑛 𝑡ℎ𝑒 𝑦𝑒𝑎𝑟𝑠 𝑎ℎ𝑒𝑎𝑑,” said Chris Sturgess.
Collen Tapfumaneyi emphasized the significance of this step for Africa’s young and fast-growing commodity exchanges:
“𝑊𝑒 𝑎𝑟𝑒 𝑖𝑛 𝑜𝑢𝑟 𝑖𝑛𝑓𝑎𝑛𝑐𝑦 𝑎𝑠 𝑎𝑛 𝑎𝑠𝑠𝑜𝑐𝑖𝑎𝑡𝑖𝑜𝑛… 𝑐𝑜𝑙𝑙𝑎𝑏𝑜𝑟𝑎𝑡𝑖𝑜𝑛 𝑡ℎ𝑎𝑡 𝑒𝑛𝑎𝑏𝑙𝑒𝑠 𝑢𝑠 𝑡𝑜 𝑟𝑒𝑎𝑐ℎ 𝑡ℎ𝑒 𝑤𝑜𝑟𝑙𝑑 𝑎𝑛𝑑 𝑡ℎ𝑒 𝑤𝑜𝑟𝑙𝑑 𝑡𝑜 𝑟𝑒𝑎𝑐ℎ 𝑜𝑢𝑟 𝑓𝑟𝑎𝑔𝑚𝑒𝑛𝑡𝑒𝑑 𝑚𝑎𝑟𝑘𝑒𝑡𝑠 𝑐𝑎𝑛 𝑜𝑛𝑙𝑦 𝑏𝑒 𝑏𝑒𝑛𝑒𝑓𝑖𝑐𝑖𝑎𝑙.”
AFM Chairman Pat Kenny concluded:
"𝐼𝑡'𝑠 𝑒𝑥𝑐𝑖𝑡𝑖𝑛𝑔 𝑡𝑖𝑚𝑒𝑠 𝑓𝑜𝑟 𝑎𝑙𝑙 𝑜𝑓 𝑢𝑠. 𝐼𝑡'𝑠 𝑎 𝑔𝑟𝑜𝑤𝑡ℎ 𝑖𝑛 𝐴𝐹𝑀 𝑎𝑛𝑑 𝑦𝑜𝑢𝑟 𝑐𝑜𝑚𝑚𝑜𝑑𝑖𝑡𝑦 𝑚𝑎𝑟𝑘𝑒𝑡𝑠."
AFM is proud to partner with A-ACX on this journey toward stronger, more integrated markets.
