Sani Redi, Ethiopian Commodities Exchange’s (ECX) former board chairperson, is replaced by Yinager Dessie (PhD), governor of the National Bank of Ethiopia (NBE). ECX’s board of directors, which was formed recently, has a total of 11 members, of whom six are from government offices while the remaining five members represent the private sector. Abdela Bagerish, general manager of SA Bagarish, one of the leading coffee exporter companies, has also been re-elected to the board of directors, representing the business community. Thus, owners cannot have trading stake, members cannot have ownership stake, and the management can be neither drawn from the owners nor from the members. The Management Board is composed of Owner representatives and five Member representatives.

Source: Ethiopian News October 31, 2018 18:22 UTC