Photo - Lagos Mercantile Exchange
59873

Lagos Mercantile Exchange

Nigeria
Market: Trade, Financial services, Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 29.03.2023
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Idea

We are revolutionizing the African commodities trading ecosystem with the launch of a pan-African exchange. Our commodities exchange will derivatives focused for energy, metals and agriculture.

Current Status

Trading engine is 85% ready, website development almost complete.

Problem or Opportunity

The major problems of commodities trading in Africa today is the lack of transparency, inefficiencies, and barriers in the process of buying and selling commodities, which results in price volatility, limited access to markets for farmers, and suboptimal allocation of resources in the economy

Solution (product or service)

By providing a centralized platform for trading commodities, a commodities exchange can create transparency, facilitate price discovery, reduce transaction costs, and provide better access to finance and risk management tools for market participants.

Business model

Our business model is based on fees associated with trading on the exchange e.g: subscription fees, membership fees, clearing fees, trading fees amongst others
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