AMAC COMEX-TGCU Deal Ends Distress Selling with Certified Warehousing and Instant Farmer Financing

AMAC PLC (NSE: AMAC), through AMAC COMEX, Africa’s cutting-edge commodities exchange platform, signed a landmark agreement with The Grain Council Union (TGCU) of Uganda, a transformative partnership that will open domestic, regional, and global agricultural markets to more than 400 TGCU member organisations and millions of Ugandan farmers for the first time.

Under the terms of the agreement, TGCU members will gain access to AMAC COMEX’s fully integrated commodities exchange platform, enabling them to trade in a range of commodities, including grain, maize, nuts, fruits, vegetables, coffee, tea, herbs, and animal feeds, through a secure, transparent, and globally connected digital marketplace.

The platform empowers both producers seeking to sell and importers seeking to source from the world’s best verified suppliers.

A landmark feature of the partnership is the provision of Warehouse Receipt System (WRS) facilities, enabling TGCU members to lease certified warehouses under the management of globally accredited collateral manager Ace Global.

The WRS enables farmers to store produce against certified receipts, unlocking immediate financing and breaking the cycle of distress selling that has long suppressed farmers’ incomes.

Instant Financing: A Game-Changer for Farmers

For the first time, TGCU members will benefit from instant post-delivery financing through AMAC COMEX’s network of 13 local and regional banking partners. This facility enables farmers and cooperatives to access working capital immediately upon delivery of certified produce, without waiting for the settlement of trades.

Combined with access to comprehensive local and international trade insurance and logistics partners, the agreement provides Uganda’s agricultural sector with a complete end-to-end trade solution.

Speaking at the event, AMAC PLC Vice-President and AMAC COMEX CEO Abraham Ng’etich said what the company has created is an ecosystem and not just a platform. He noted that the agreement is not a business transaction but a declaration that Uganda’s farmers deserve access to the same world-class market infrastructure available to producers anywhere on the globe.

TGCU Chairman Robert Mwanje said that the partnership would come as a relief for Ugandan farmers as they seek markets for their produce.

AMAC PLC Chairperson and Kenya’s former Trade Cabinet Secretary, Moses Kuria, noted that the greatest challenge for farmers in the East African region is that everyone wants to do everything. He said that the best way was to but in place structures that form ecosystems that ensure that each structure delivers its part for collective success.

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