AHCX Hosts A Historic Executive Business Launch
The AHL Commodities Exchange (AHCX) Executive Business Launch took place on July 18 at the Crossroads Hotel in Lilongwe. The guest list read like a Hollywood stage of commodities trading in the world with international figure heads from commodities exchange markets from Ethiopia, India, Nepal, Kenya, Zimbabwe and the United States of America and local figure heads gracing the auspicious occasion.
The onus of Guest of Honour was given to Ambassador Pan Hejun of the People’s Republic of China who cemented his countries support for AHCX and welcoming this development in Malawi as it will mean organized trading between Malawi and China.
As the dinner progressed with testimonials from farmers and members of AHCX who have benefitted from trading on the exchange, the guests where treated to live music, traditional dances, a champagne reception upon arrival. The drinks where ever flowing as the business of AHCX was eloquently unpacked by its Chairman Dr. Evans Matabwa. The establishment of AHCX has received a wave of support from the agriculture and trade community, considering the economic benefits it will bring to the country’s struggling economy. AHCX provides an organized trade platform where buyers and sellers transact trade of commodities with assurance on quality, delivery and payment.
The establishment of AHCX comes at a time when calls are being made to reduce Malawi’s overdependence on Tobacco as the main source of foreign exchange. Prior to the establishment of AHCX, Group Chief Executive Officer for Auction Holdings Limited, Dr. Evans Matabwa told an annual economics gathering that Auction Holdings Limited being the competent authority in marketing found it more compelling to take a lead in motivating farmers in the country to commercially think about other crops apart from tobacco. Matabwa further stated that having worked with tobacco farmers for the past eight decades, the company felt that it is best placed to encourage these farmers to also consider producing other crops for purposes of business as such the company established AHCX to facilitate trading of other commodities.
A Commodity Exchange is defined as an institution that determines and enforces rules and procedures for the trading of commodities and related investments, such as commodity futures. AHCX is located along the M1 road behind Maula Puma Service Station (the old Metro Supermarket) in Lilongwe.