It’s easy to do business in Rwanda
In January 2013, at the World Economic Forum annual meeting in Davos, Rwanda’s president, Paul Kagame, proudly announced the launch of the East African Commodity Exchange (EAX) in Kigali.
|Paul Kukubo, CEO, East African Commodity Exchange in Kigali|
As part of the regional integration plan between Burundi, Kenya, Tanzania and Uganda, the exchange aims to boost liquidity and provide a commodities market for 130 million people across the entire region, currently plagued by poor infrastructure and inefficient distribution channels. Heading the exchange is Paul Kukubo, previously the chief executive of Kenya’s ICT Board. Kukubo has big ambitions for the exchange, which hopes to create a platform for smaller, regional producers eventually giving them access to futures and options. The hope is that Rwanda will provide a template for an exchange that can be replicated elsewhere where smaller-scale producers are often marginalized.