Posted on September, 12, 2018 at 10:52 am
The revamped Uganda National Commodity Exchange (UNCE), with online trading capabilities is set to be launched with seven licensed warehouses and four brokerage companies in a bid to streamline the maize value chain and crop prices. Deborah Kyarasiime, the Executive Director of the Uganda Warehouse Receipt System Authority (UWRSA) which licenses warehouses said the seven warehouses have facilities that are equipped with human resources, machines and systems.
The first system referred to as electronic warehouse receipt system (e-wrs) will ensure that farmers are issued the tradable receipts by warehouses.
The second electronic trading system (e-trading) will deal with matching payments to warehouses and supply of stored grains to buyers around the country and the world. Kyarasiime noted that tests have confirmed that the exchange is ready for business.
Exchange is ready for launch. What we are doing right now is talking to stakeholders such as the trade ministry, warehouse operators, banks and insurance companies about the system .” Kyarasiime said.
Source: New Vision | Wednesday September 12, 2018 | Page 34