Agricultural Commodity Exchange for Africa Trust (ACE)
“Capacity support to the Agricultural Commodity Exchange for Africa Trust”
ACE made a lot of progress in 2010. COMPETE was an important catalyst, as the bridge funding grant enabled ACE to be operational and to develop the BVO system which is a significant tool in WFP utilization of ACE.
2011 will be equally important to ACE. Many important activities will be implemented that will increase trade volumes on ACE. The increased volumes will mean that 2011 will be the year, where ACE will take the first step to generate real income and take the first step towards a sustainable structure.
There are however some funding gaps where ACE would like to request COMPETE's assistance in 2011.
- ACE has not managed to secure funding for all the operational costs and therefore needs support for 4 budget lines.
- The increased activities and trades on ACE have made a contract manager/accountant a necessity.
- Continued support to the IT development is needed. As the system has developed in complexity there is a need for an IR expert on a consultancy basis.
- ACE would like an external consultant to develop a business model of the sustainability of ACE. A realistic projection of income and cost over the next 5 years.
1st Grant: January 15th, 2010 – November 30th , 2010
2nd Grant: January 14th, 2011 - January 13th, 2012