twitter RSS Feed linkedin acp contact

Ecobank and eleni join forces for African agriculture

Ecobank Transnational Inc. has signed a Memorandum of Understanding (MoU) with commodity exchanges developer eleni LLC, with a view to establishing a co-operative framework to promote and accelerate the development of Africa’s agricultural sector

Ecobank eleni agriculture dealEcobank was a keystone investor in the establishment of the eleni’s Ghana Commodity Exchange. (Image source: Banku)

Albert Essien, Ecobank’s group chief executive, and Dr Eleni Gabre-Madhin, CEO of eleni, signed the MOU at an official ceremony held during the AfDB’s Annual General Meeting in Kigali.

The partnership between Ecobank and eleni will aim to realise a shared vision to transform Africa’s competitiveness in global commodity markets, enhancing value addition and processing in the domestic economy and enhancing food security. The partnership will look to build on the synergies between Ecobank’s unrivalled pan-African presence and its commitment to financial inclusion and eleni’s successful track record of creating and operating commodity exchanges in Africa, with projects in Ghana, Cameroon, Mozambique, and Nigeria. Ecobank recently announced that it was a keystone investor in the establishment of the Ghana Commodity Exchange, eleni’s first major foray in West Africa.

“As well as increasing market transparency and reducing transaction costs, commodity exchanges play a crucial role in the monitoring and assessment of risk,” commented Albert Essien, Ecobank’s Group CEO. “Instruments such as warehouse receipts reduce uncertainty and improve access to finance across the value chain. We look forward to collaborating further with eleni

to enhance Africa’s agricultural financing capabilities.”

“We are very excited to be working with one of Africa’s leading financial institutions, with a solid pan-African focus, as this opens up a tremendous opportunity to establish the leading platform for commodity-related payments and transactions across the continent,” concluded Dr Eleni Gabre-Madhin.


LATEST NEWS IN Infrastructure

Helping Africa grow with irrigation infra

Helping Africa grow with irrigation infr…

Netafim has partnered with the government of Rwanda to build water and irrigation infrastructure for 15,600 hectares of land including a fully automated drip irrigation and fertigation commercial blocks –...

Developing a purpose-built fresh produce market in Lusaka

Developing a purpose-built fresh produce…

InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed an agreement with Savenda Capital committing US$2mn towards the construction of ZAMBIAFresh Lusaka Market in Zambia’s capital

TİKA supports Tunisia’s National Gene Bank

TİKA supports Tunisia’s National Gene Ba…

Turkish Cooperation and Coordination Agency (TİKA) established a chemical and molecular analysis laboratory for the identification, analysis, and registration of local fruit species, especially local olive tree species, within Tunisia’s...

Grain processing and storage equipment manufacturer plans to grow in sub-Saharan Africa

Grain processing and storage equipment m…

With a complete range of grain processing and storage equipment, Perry Engineering can provide single machines to full turnkey installations for small farms to large commercial grain stores, plus flour...

Food, Feed and Biofuel: global technology solutions at Desmet Ballestra

Food, Feed and Biofuel: global technolog…

Desmet Ballestra Group is the world leader in the field of tailor-made engineering and procurement services covering each step of the Oils & Fats industry, from oilseed preparation and extraction...

Bühler opens insect technology centre to support feed and food industries

Bühler opens insect technology centre to…

Bühler Group, known for plant and equipment and related services for processing foods and manufacturing advanced materials is officially opening Insect Technology Center (ITC)

Prev Next

OTHER RELATED ARTICLES - Infrastructure

Digitisation enhances Africa’s revenue harvest

Digitisation enhances Africa’s revenue h…

The 38th meeting of the Committee of Experts of the ECA Conference of African ministers of finance, planning and economic development, in Marrakech, Morocco, has highlighted the need to digital...

Diesel generators news - Welland in Export Track 100

Diesel generators news - Welland in Expo…

Hard-working and dedicated management are put into growing a stable business

Cocoa farmers in Côte d’Ivoire getting trucks on lease

Cocoa farmers in Côte d’Ivoire getting t…

International Finance Corporation (IFC), Cargill and Ivorian bank Société Ivoirienne de Banque (SIB) are helping Côte d’Ivoire’s cocoa farmers transport their crops

New satellite-enabled solution to protect African wildlife

New satellite-enabled solution to protec…

Inmarsat, global mobile satellite communications provider, has joined forces with RESOLVE, the Washington DC-based non-profit environmental and health organisation, to develop a satellite-enabled solution to safeguard endangered wildlife across Africa

Cargill injects US$20 million into animal nutrition project

Cargill injects US$20 million into anima…

Cargill Animal Nutrition has announced that it is investing an estimated US$20mn in a South African facility

Symaga wins enterprise merit award in export category

Symaga wins enterprise merit award in ex…

Symaga Group, a global provider of galvanised steel silos for grain storage, has received the award of “Enterprise Merit in Export Category”

DowDuPont merger completed

DowDuPont merger completed

The company moves forward toward intended separation into industry-leading, publicly traded companies in agriculture, materials science and specialty products; separations expected to occur within 18 months 

GALVmed and Inocul8 launch new global database

GALVmed and Inocul8 launch new global da…

A new on-line database aims to become a unique free ‘one-stop’ source of information on all the livestock and poultry vaccines produced throughout the world

Growers unveils beta testing for advanced ag specific CRM

Growers unveils beta testing for advance…

Agronomic technology solutions specialist Growers has announced the release of Growers Rally to their existing customers for beta testing

Food gets to play a role in Amazon activism, says GODAN executive director

Food gets to play a role in Amazon activ…

Andre Laperrière, executive director of Global Open Data for Agriculture and Nutrition (GODAN), has highlighted the issues that why the Amazon fires are a global responsibility and how the food...

DuPont extends its plant-based ingredient portfolio with Danisco Planit

DuPont extends its plant-based ingredien…

With the launch of Danisco Planit, DuPont Nutrition & Biosciences (DuPont) aims to transform the global eating habits and co-create plant-based beverages, dairy alternatives, meat, fish and seafood

Ignitia teams up with BCtA to deliver text message weather forecasts to farmers

Ignitia teams up with BCtA to deliver te…

Social enterprise Ignitia has joined the Business Call to Action (BCtA) to deliver tropical weather forecasts via text messages to farmers in West Africa

Prev Next