MCX Africa Limited
|MCX Africa Ltd.
|Chris Goromonzi, Executive Director; Adam Gross, head of Strategy
|spot and derivatives trading
MCX Africa Limited is a commodity spot and derivatives exchange designed to serve markets across the African continent. It is a wholly owned subsidiary of the Multi Commodity Exchange of India (MCX). MCX plans to reach 53 African countries by offering a spot platform enabling the efficient delivery of a range of African commodities. It also plans to be a future exchange that brings price discovery, risk management and investment opportunities directly to the African user.
MCX Africa is being promoted by Financial Technologies India Limited, an India-based technology company that has successfully developed several exchanges, the most notable being the Multi Commodity Exchange of India and the Dubai Gold and Commodity Exchange.
The Inaugural Advisory Board meeting of MCX Africa took place in Botswana from May 21 to 23 and was planned to coincide with meetings with the regulatory authorities in Botswana for the official launch of the licensing application for MCX Africa in Botswana.