{{Over 1000 metric tonnes of maize are scheduled for auction on July 29 using an automated trading platform.}}
The auction will be conducted in lots of 5metric tonnes guided by a set of rules to ensure transparency in the auction process.
EAX Rwanda a regional commodity exchange in collaboration with Rwanda Grains and Cereals Corporation (RGCC) invite the general public within and outside Rwanda for the auction that will take place at Kigali City Tower 12th Floor – Avenue du Commerce, Kigali. Participants are expected to arrive at EAX office at 9:00 am.
Once the auction is complete, the successful bidder will be required to pay a deposit amount of 30% immediately by cheque, after notification of award.
The remaining amount shall be paid within 5 working days from the date of notification and the successful bidder shall take possession of the goods within 10 days after the auction.
Interested persons or organizations must register by phone call or e-mail (see details below) no later than July 24th 2013 at 5:00 pm at EAX office in Kigali City Tower 12th floor.
Registered parties are also required to schedule a training and information session on the auction procedures at EAX during working hours (8:00 am to 5:00 pm) any time from the 25th to the 26th of July 2013.
The training will be provided by EAX free of charge on the 25th or 26th of July 2013. In addition, remote bidding is welcome with training support provided by EAX.
EAX Rwanda is a regional commodity exchange established to link smallholder farmers with better access to agricultural and financial markets, enabling them to sell their products at a fair and competitive price and facilitating access to financing opportunities.
EAX Rwanda serves as a vehicle to assist in agricultural and capital market development in Rwanda and East Africa at large.
EAX Rwanda seeks a phased approach to the development of a commodity exchange in Rwanda and plans to start operations by first establishing an agricultural commodities auction.
The Rwanda Grains and Cereals Corporation (RGCC) aims to address the challenges that affect grain and cereals trading, by establishing structured trading system to better organize national trade practices, and promote approaches to trade which will help farmers, suppliers, traders, and processors transform their businesses.
patrick@igihe.com
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