ACEX launches platform to improve commodity trading

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Mr. Ian Mvula with the Acex team

TE Markets – an adaptable company in Africa with interests and investments in real estate, mining and exploration, as well as digital financial services – has launched the African Consolidated Exchange (ACEX) to enable Africans to control the prices of raw materials.

The system, which was launched in Nairobi, Kenya over the weekend, also aims to become a key infrastructure for players in financial markets and digital finance.

This platform aims to serve as a digital general store for all forex traders, crypto traders, financial market stakeholders and investors in the African continent and beyond.

TE Markets and ACEX Founder and Chairman Ian Mvula in a post-launch interview said the platform is meant to change the narratives of Africans left behind, especially when it comes to make financial markets what they are.

He said, for example, that 40% of the world’s commodities come from Africa, but Africa rarely plays a role in determining the prices of these commodities and changing that narrative has been the motivation for the platform.

Although he acknowledged that the situation could not be changed overnight, the founder of ACEX said changing it begins with a journey, which would soon put the pricing power in the hands of Africans.

Mr Mvula said that with the steps taken with the launch of the ACEX platform, the company strongly believes that over the next few years the rhetoric will change and that this is what Africa needs in this moment.

He indicated that ‘cryptorization’ is a reality and has come to stay – and that there is massive adoption of the same around the world, adding that Africa is currently one of the main regions. and as such the ‘TEM coin’, the TE Market cryptocurrency project, will be the medium of exchange on the ACEX platform.

Regulation of cryptocurrency

Mr Mvula said the company will self-regulate until regulatory requests are cleared, because in the current situation in Africa, authorities are not yet regulating cryptocurrencies. He noted, however, that in America, authorities had already started the process of regulating trading activities with cryptocurrencies.

He revealed that the way crypto has already changed the financial market is a great way and that it is currently way above the New York Stock Exchange in terms of market cap, so it exceeds the market cap by three trillion.
Mr Mvula explained that this is a huge sum that a regulator should not overlook and not seek to regulate such a market.

Level of cooperation with African governments

He noted that the company has received a lot of support from the countries that have been approached so far, indicating that they have no form of regulation for cryptocurrencies, so the ACEX platform could still continue. and as the regulations come into effect, they take it from there.

Mr Mvula said he assumed most of these countries were actively working in the background to regulate market activities and “we are ready for a time when they open their doors.”

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