ECX is partnering with a Dubai-based high-tech firm to make real time commodity price information available and accessible across Ethiopia via a network of real time LED information displays.
Dubai, U.A.E. October 29, 2009
The Ethiopia Commodity Exchange (ECX) is setting up a country-wide network of real-time Information Displays developed by Wavetec, to ensure that updated commodity price information is available and easily accessible. The project is sponsored and funded by the World Bank, and the aim is to end exploitation and increase legitimacy of the trading process by making accurate data available at all times.
According to The Economist, Ethiopia is one of the fastest growing economies in the world. A large volume of trading at ECX is agricultural coffee beans and a variety of seeds and the new state of the art, real-time display solution by Wavetec will ensure transparency and improve information availability to enhance customer confidence in the market.
The tender for the project was floated to the international vendor community in February 2009 and due to complex technical requirements only a handful of bidders passed the strict selection criteria set by the World Bank. Interested companies had to prove technical expertise and domain knowledge. With a decade of experience developing information display solutions for financial and commodity markets region-wide, Wavetec was selected as the implementation partner of choice.
Wavetec is a high-tech firm based out of Dubai Silicon Oasis and the leading design manufacturer of end-to-end information display solutions. By adding ECX to its impressive client portfolio it has become the chosen technology partner for twelve exchanges in Africa, Middle East and Asia