25 January 2013

East Africa Exchange Launched

The East Africa Exchange was yesterday introduced to the international community at the World Economic Forum in Davos, Switzerland. Presi-dent Paul Kagame of Rwanda, Nicolas Berggruen of Berggruen Holdings and Jendayi Frazer of 50 Ventures also representing Heirs Holdings, presented the project at a press conference yesterday.

A statement by the spokesman for Heirs Holdings, Moky Makura, said EAX Rwanda is the first part of a regional exchange intended to increase transparency in the region's commodity markets through private-sector-led investment. Its investors are Berggruen Holdings, Heirs Holdings, a pan-African investment company, The Tony Elumelu Foundation, 50 Ventures and Rwandan led Ngali Holdings.

The chairman of Heirs Holdings, Tony O. Elumelu, said the Exchange showcased their desire to embrace global opportunities.

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