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(From Financial Mail)
Byline: Thandeka Gqubule
Commodities exchanges AFRICAN TRADE GETS ORGANISED In a further effort to establish itself as a leading financial services centre in Southern Africa, Botswana is leading initiatives for a regional commodities and derivatives exchange.
The project, the Pan African Commodities & Derivatives Exchange (Pacdex), has the backing of the African Union (AU), whose member states last year indicated full support, backed by a memorandum of understanding, for a commodities exchange operated on the continent.
At the moment the prices of most metals and other commodities are set by the London Stock Exchange …