Commodity brokers establish association
Commodity Brokers in Malawi have formed an association to coordinate their activities in the country.
Commodities Brokers Association interim president, Chisambazi Nyirenda told The Daily Times Tuesday that the association has a membership of over 40 brokers who are working with the country’s two exchanges, the AHL Commodities Exchange (AHCX) and the Agriculture Commodity Exchange (ACE).
Nyirenda, who is also owner for Chisambazi Commodities, said the association will help improve the knowledge, efficiency and understanding of commodities, commodity exchanges, commodity broking and commodity trading among brokers in the country.
“We will also network with local and international commodity broker associations, commodity exchanges, commodity traders and organisations and institutions with similar objectives,” said Nyirenda.
He said the association will help in promoting the interests of industry and commodity farmers.
He said just like in any other market, commodity brokers are there to act as a bridge between the market and growers.
“Brokers give advice to the growers on which crops are on high demand in the market,” said Nyirenda.
“Being a new concept, the commodities exchange needs to be appreciated by Malawians,” said Nyirenda.
“Our association will play the role of ensuring that Malawians understand the basic operations of the commodity exchange as well as the operations of brokers,” he said.