Enat Bank Joins ECX

Enat Bank has become the last private bank to partner with the Ethiopia Commodity Exchange (ECX) to run transactions.

The agreement was signed between Wendwosen Teshome, president of Enat, and Wendmagegnehu Negera, CEO of ECX.

The goal of a modern and robust banking system is to attain increases in exports, according to Wendwosen.

“Enat Bank believes it will provide that system by working with ECX,” said Wendwosen.

In addition to coffee and sesame, the Exchange will begin trading soybeans and chickpeas starting December 31, 2018. It also opened new exchange branches in Hawassa, Neqemt and Humera recently.

So far, there are more than 5,500 bank accounts at the 15 banks involved in transactions at ECX.