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Grain value chain/Ghana - Bank of Ghana supports warehouse receipt system

05 August 2015

The Bank of Ghana (BoG) has initiated action towards the introduction of Warehouse Receipt System finance during an international seminar on Commodity Trading and Risk Management in Accra. Under the system, commodity-backed warrants would be issued by market participants to fund their operations. According to the BOG’s Deputy Governor, the initiative would not only expand the frontiers of the banking system but also establish the requisite financial infrastructure needed to fuel the operation of the commodity exchange. This initiative is timely as it came closely after the Ghana Commodity Exchange had been launched and would afford industry regulators to build capacity to confront emerging challenges. Several stakeholders in the seminar - grain producers, Securities and Exchange Commission and the African Development Bank - supported Ghana’s move to establish a commodity market because it would bring security and transparency to the local market. The absence of the commodity exchange hampers the domestic trading of commodities, affecting issues of grain-price discovery and transparency.


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