Business

ZAMACE to certify 9 warehouses

ZAMBIA’S annual national consumption was slightly above 1,500,000 metric tonnes by the end of 2015.

TRYNESS TEMBO, Lusaka
IN A bid to ensure farmers have adequate storage facilities, Zambia Agricultural Commodity Exchange (ZAMACE) is this month expected to certify its first warehouse receipts in nine districts across the country with a total of 400,000 tonnes storage space.
The warehouse receipt locations certified are operated by the following traders: Zdenakie Limited, Afgri Corporation, CHC Commodities Limited and NWK Commodity Services Limited.
According to the Zambia National Farmers Union (ZNFU) agro watch availed to the Daily Mail last week, the certified locations are Mkushi, Mpongwe, Petauke, Mpongwe, Kabwe, Katete, Kapiri Mposhi and Lusaka.
“ZAMACE is scheduled to issue its first warehouse receipts by the second week of September 2016. The scheduled warehouses have a total storage capacity of about 400,000 tonnes,” the statement reads.
Under the certification of the warehouses, wheat is the main targeted commodity that is expected to stimulate activity on the ZAMACE platform in September. The other crops are maize and soya beans.
ZAMACE is striving to attain its mission of providing an efficient and vibrant agricultural commodity supported by warehouse certification and receipt system that will enhance market access, liquidity and credibility in the commodities market.
Last year, ZAMACE started its full operation, and First National Bank became the only participating bank on the warehouse receipt system.
ZAMACE, which is a private limited liability company and operates Zambia’s sole commodities exchange, has also signed an agreement with JSE Limited for a linkage of a futures contract.
On the other hand, Musika Agriculture Development initiative is supporting ZAMACE’s operations towards full commercial operationalisation.

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