Finance Minister launched #Zimbabwe’s Commodities exchange,(ZMX), which allows people to trade in at least 18 commodities, including options and futures contracts. ZMX will run a Warehouse Receipt System, allowing farmers or anyone to take their commodities to the ZMX warehouses and obtaining a receipt.
A commodities exchange is a legal entity that determines and forces rules and procedures for trading physical commodities such as wheat and securities/contracts related to these.
The trading platform was launched by Minister Ncube on 18 August 2021 in Harare. It was designed to curb warehousing and price discovery challenges related to farmed commodities, which local farmers encounter in their operations.
On 12 May 2023, ZMX announced that it will begin trading maize on the commodities market after the Government liberalized the trading in the strategic grain.
Previously, under Statutory Instrument 145 of 2019 (SI 145), ZMX was not allowed to trade maize as the Grain Marketing Board (GMB) was the sole trader of maize.
