“Zimbabwe Will Be Part of This Proud Network” declares, Dr. Masuka.

The Minister of Lands, Agriculture, Fisheries, Water and Rural Development , Dr. Anxious J. Masuka, officially opened the Association of Commodity Exchanges Annual Conference in Victoria Falls yesterday, emphasizing the critical role of commodity exchanges in fostering economic resilience and strengthening intra-African trade.

Welcoming delegates to Zimbabwe, Dr. Masuka highlighted the significance of the conference’s theme, “Scaling Intra-African Trade: Leveraging Commodity Exchanges for Economic Resilience and Growth,”describing it as an opportunity to enhance investment, expand value chain financing, and deepen economic integration across the continent. He underscored the importance of the Africa Continental Free Trade Area (AfCFTA) and the establishment of the AfCFTA Association of Commodity Exchanges (A-ACX), calling it a clear demonstration of Africa’s collective commitment to achieving economic integration through efficient and transparent commodity markets.

Reflecting on Zimbabwe’s agricultural transformation, Dr. Masuka noted that the country had shifted from a centralized, government-controlled marketing system to a structured, liberalized commodity-marketing framework. He credited the Agriculture, Food Systems and Rural Transformation Strategy (AFSRTS), launched by President Emmerson Mnangagwa in 2020, for driving this transition.

The strategy, he explained, seeks to ensure national food security and sovereignty, improve nutrition and livelihoods, contribute to economic development, and reinforce peace and security through reaffirming national
boundaries.

A key component of this transformation was the introduction of the Warehouse Receipt System Act in 2020, which paved the way for the operationalization of the Zimbabwe Mercantile Exchange (ZMX) in 2022. Dr. Masuka described ZMX as an independent ndent trading platform designed to support farmers by providing a structured market for agricultural commodities, mobilizing resources for agricultural financing, and improving price discovery mechanisms. He revealed that 48 commodities, including maize, cotton, wheat, soya beans, livestock, sugar beans, and rice, had already been approved for trade under the Warehouse Receipt System.

Highlighting the rapid growth of the ZMX, Dr. Masuka announced that the platform had established a network of 33 warehouses with a total storage capacity of 642,000 metric tonnes across seven of Zimbabwe’s ten provinces. Weekly auctions were now in operation, with warehouse receipts covering 437,000 metric tonnes of various commodities already issued. He stressed that the exchange was increasingly becoming a vital platform for farmers, offering them more predictable payments and access to structured markets.

Turning to Zimbabwe’s agricultural exports, Dr. Masuka proudly stated that the country had achieved wheat self-sufficiency for three consecutive seasons, now boasting an annual surplus of 250,000 metric tonnes. He also highlighted the country’s surplus in tobacco, sugar, and various horticultural products, positioning Zimbabwe as a key player in regional trade. With Africa still importing between USD 80-100 billion worth of food annually, Zimbabwe, he said, was actively exploring export opportunities under AfCFTA and A-ACX. He emphasized the importance of value addition, competitive pricing models, risk mitigation through appropriate insurance mechanisms, digital payment platforms, and enhanced logistics to ensure Zimbabwe’s agricultural products remain competitive on the continental market.

Dr. Masuka also pointed to the future role of structured commodity markets in securing predictable trade, with the ZMX now exploring forward and futures contracts. He explained that by facilitating secure and reliable contracts, the exchange could empower farmers with guaranteed off-take agreements, reducing post-harvest losses and improving financial planning. He called upon African nations to embrace collaboration, innovation, and citizen-friendly trade models to build a self-sufficient and prosperous continent.

As he concluded his address, Dr. Masuka reaffirmed Zimbabwe’s commitment to intra-African trade and economic growth, stating, “Zimbabwe will be part of this proud network on a memorable journey to build a stronger and more prosperous Africa, The Africa we want “With those words, he officially declared the conference open, wishing delegates productive discussions and an enjoyable stay in Victoria Falls.