Ethiopian Commodity Exchanges (ECX) says its board of directors has appointed Hailu Nigussie as a deputy chief executive officer for the trading platform.
The decision has promoted Hailu from warehouse operation chief to deputize Wondimagegnehu Negera, the current CEO of the 15-year-old entity.
The Deputy CEO has been serving the ECX for the last 15 years in various capacities including the head of trading operations.
His latest promotion was approved by the newly appointed governing board of the ECX on Monday, the exchange says.
The ECX – launched to improve the efficiency of the country’s trading system in 2008 – serves as an electronic trading platform for major agricultural commodities such as coffee.
The exchange plans to broaden the range of commodities it trades to industrial products such as cement, metals, as well as stocks and bonds under its short term expansion plan.