Hirander Misra, Chairman and CEO named key business influencer

London, 17 July 2018. GMEX Group (GMEX), a provider of innovative exchange, post-trade and digital technology solutions, is pleased to have been identified as one of the leaders in the implementation of blockchain technology in the Financial Services industry in a first-of-its-kind, report on the state of the Blockchain Industry in the United Kingdom. The report was launched at a Reception in London at the Houses of Parliament on Monday 16 July.

The 960-page report was created by Big Innovation Centre, DAG Global and Deep Knowledge Analytics who have worked together to conduct the most comprehensive analysis of the UK-based Blockchain and Crypto Economy Industries to date, in coordination with the All Party Parliamentary Group on Blockchain (APPG Blockchain).

The report recognises GMEX as amongst the top 10 leading UK Blockchain companies and a successful example of a Blockchain FinTech company. It highlights Fusion, GMEX’s hybrid centralised & Blockchain based global exchange trading, market surveillance, post trade infrastructure and digital solutions suite to tokenise multiple asset classes and two GMEX-backed initiatives illustrating how blockchain is being implemented to support the crypto economy in emerging markets.

The first, FinComEco – a fully integrated financial & commodities ecosystem
launched by GMEX Group – delivers high impact projects facilitating agricultural value chain efficiencies through provision of strategic value-added services including electronic warehouse receipt systems; physical exchanges and trading platforms; commodities and input finance; and digital banking, training and capacity building. This includes the establishment of commodities exchanges underpinned by Blockchain technology.

The second, MINDEX – the Mauritius-based International Derivatives and Commodities Exchange – will enable sourcing, trading and financing of ethically sourced gold from bona fide sources by using Blockchain for provenance verification and creation of digital gold asset based on it.

The report also named Hirander Misra, Chairman and CEO of GMEX Group, as one of the Top 10 Business sector UK Blockchain Influencers and part of the Top 40 influencers overall, with an additional 10 selected from each of Parliament & Government, Academia and Think Tanks & Hubs.

Hirander Misra commented, “I am delighted, both personally and for the team at GMEX, to have been included in this comprehensive report into such an important and growing part of the UK economy and technology space.” Adding, “This is an exciting stage in the development of blockchain technology and with our GMEX Fusion solutions, we at GMEX are committed to making best use of the benefits it brings globally, where it is most appropriate.”

Sean Kiernan, CEO at DAG Global commented, “We are very pleased to have collaborated with several leading UK blockchain partners and firms to create this landmark report, which we hope will invite further discussion about the future of the industry in this country. This has been a wonderful opportunity to deepen our ongoing partnership with GMEX, by establishing a dialogue through this and anticipated future reports with key decision-makers.”

The report outlines the current state of the Blockchain and Crypto Economy industries, summarises the history of its development, and offers concrete projections relating to its evolution over the course of the next several years, detailing why the UK has significant potential to become a major world leader of the Digital & Crypto Economy ecosystem.

“GMEX is a notable practical case profiled in the report providing clear example of the progressive UK FinTech company merging traditional legacy economy with the new rising Digital Crypto economy. One of the main conclusions of the analytical report is that UK will become major global Hub for this new economy. I would envision that GMEX in particular will be one the crucial elements to make that opportunity for the UK to become reality.” – said Dmitry Kaminskiy, founder of Deep Knowledge Analytics, one of the main entities standing behind creation of the report.

The report offers in-depth profiles of identified major companies, investors, influencers, R&D centres, and other industry and governmental entities and players. It also includes coverage of relevant government initiatives, regulatory frameworks and guidelines, and industry roadblocks both today and anticipated in the next several years.

The 960-page report and Executive Summary can be downloaded from www.appg-blockchain.org/blockchain-industry-in-uk-landscape-overview-q2-2018/ or dkv.global/blockchain-in-uk/

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Media Contact

GMEX Group
Melanie Budden
The Realization Group
melanie.budden@therealizationgroup.com
pr@gmex-group.com

About GMEX Group

GMEX Group is a set of companies that offer sustainable and innovative solutions for a new era of global financial markets. Providing business expertise, the latest technology, connectivity & operational excellence delivered through an aligned partnership driven approach. We use our extensive market infrastructure experience and expertise to create an appropriate strategic master plan with exchanges, clearing houses, depositories, registries and warehouse receipt platforms.

Our key business solutions enable the creation and operation of cost effective electronic exchanges and post trade infrastructure in multiple asset classes including equities, debt, FX, derivatives, commodities, cryptocurrencies and digital assets. We operate in both developing and developed markets through the establishment of cohesive business and technology ecosystems. GMEX offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity.

GMEX was founded by Hirander Misra, co-founder of the Chi-X Europe exchange, a successful competitor to the LSE. It represents Mr Misra’s ongoing commitment to exploring new markets and new technical solutions, substantiated many times over with his efforts to expand access to capital markets through fast-emerging digital asset classes and emerging economies like India, Vietnam, Lebanon, Tajikistan and more.

GMEX Group ensures a cohesive strategic direction is maintained and comprises of:

• GMEX Technologies: is a provider of multi-asset exchange trading and post trade technology through a unique partnership driven approach
• GMEX Innovation: conducts R&D of technologically advanced new product solutions for exchange trading, clearing and settlement
• GMEX Services: provides strategic consultancy, implementing services & support for exchanges and market infrastructure providers
• GMEX Investments: enables selective seed and early stage strategic investments into market infrastructure and related FinTech companies.

For more information visit www.gmex-group.com or @GMEX_Group

About Big Innovation Centre:

Big Innovation Centre exists to help businesses, public agencies and universities put their open innovation principles into practice. Acting as an open innovation hub, Big Innovation Centre convenes a network of representative global companies in every sector, plus national public agencies and some of the best universities. Through this coalition we are building world-class innovation ecosystems and co-creating global innovation and investment hubs. Our aim is to help rebalance and grow national and regional economies. Our partners pool and share resources – technology, IP, data, skills, space, entrepreneurial finance – so our people can work together as co-catalysts to solve the grand challenges. Big Innovation Centre enlarges the innovative capability of its partner organizations, and itself becomes a ‘go-to’ place where commercial and public sector ideas are shared, tested and realized. We create a trusted space for people from cutting edge companies, universities and public agencies to meet and co-create a better world.

For more information visit: www.biginnovationcentre.com

About DAG Global:

DAG’s mission is to bridge traditional financial services with emerging digital assets to provide the premier trusted platform to access the digital and crypto economy. DAG aims to bring together the tradition of regulated banking and exchange with emerging innovation and blockchain technology. We will provide traditional banking services and solutions for digital asset businesses, as well as facilitate an entry into the emerging blockchain economy for existing regulated financial services firms. The DAG team has significant and proven expertise in building successful digital enterprises, putting us in pole position to become the first internationally-regulated Crypto Bank. We will service client requirements for lending and funding through our own bank, as well as a peer-to-peer platform, curating independently valued deals, with the objective to build an investment ecosystem. Our core team comes from the traditional regulated banking world combined with DeepTech expertise, to uniquely operate within the next industrial revolution at the convergence of AI, data science, blockchain, and the evolution of the crypto economy and financial industry.

For more information visit: www.dag.global

About Deep Knowledge Analytics:

Deep Knowledge Analytics is the analytical department of Deep Knowledge Ventures, a VC firm focusing on early-stage investments in disruptive DeepTech technologies and regularly producing advanced industry analytical reports on the subjects of FinTech, Artificial Intelligence, Longevity, Crypto Economy and Convergence of Technological MegaTrends.

For more information visit: www.analytics.dkv.global

Block Commodities Limited and Financial & Commodities Ecosystem Limited (FinComEco) a subsidiary of GMEX Group Ltd, are pleased to announce a strategic alliance with Swarm Fund (Swarm). Swarm is a fully decentralised capital marketplace platform built on blockchain technology for private equity. Under the alliance, the parties will provide a unique investment opportunity via the listing of FarmCoin Venture, an asset-backed investment coin, to help develop a pan-African financial and commodities ecosystem.

Under the terms of the agreement, investors will be able to participate in the FarmCoin via Swarm’s fully regulated marketplace. This investment will help supply African farmers with the financing of the infrastructure needed to help them raise yields and sell crop surpluses.

The FarmCoin Venture has been created as a Joint Venture between FinComEco and Block Commodities (the “Joint Venture”) to support the anticipated rapid growth of its agriculture-focussed ecosystem and the requirement to deploy a hybrid centralised and decentralised commodity exchange platform. This includes wireless data communication, farmers’ KYC data support, data analysis, smart warehousing for fertilizer distribution and crop storage as well as transport.

The initial investment ceiling will be US$45 million in value of FarmCoin tokens. The investment will be deployed by the Joint Venture parties to develop commodity ecosystems on a per-country basis across sub-Saharan Africa. This will include commodity finance and micro-lending to farmers for fertilizer and seed as well as the development of local and regional warehousing linked to commodity exchanges, making it easier for farmers to sell surplus agricultural produce.

FarmCoin’s primary aim is to provide a fully regulated financial infrustracture to Block Commodities and FinComEco’s commodity ecosystem. This ecosystem intends to provide financial opportunities for those parts of African farming community who is either ineligible for loans or are forced to take on borrowings via moneylenders at uneconomic rates. FinComEco is already in discussions with over twenty countries across Africa with four countries already contracted to take up its model.

In the FarmCoin model, farmers will be able to bring surplus crops to a warehouse.The surplus crops are aggregated and sold via a FinComEco-facilitated commodities exchange. Once the crops are sold, the warehouse fees and loan interest are paid and the net profit credited to the farmer in FarmCoins. The interest rates on FarmCoins will be at a mutually agreed, decentralised interest rate, expected to be up to 50 percent lower than prevailing bank lending rates and 75 percent less than the commercial rate.

Investors who participate in Swarm’s marketplace will purchase FARM tokens, representing fractional ownership in the FarmCoin infrastructure, making this a true asset-backed token. FARM token holders will benefit from a share in the fees and interest paid by the farmers.

Block Commodities Executive Chairman, Chris Cleverly said: “FarmCoin will give investors not only a unique investment opportunity in one of the prime “unbanked” global markets, but also the chance to lend a helping hand to improve the lives and opportunities of Africa’s poorest farmers. Support from Swarm Fund allows Block Commodities and FinComEco to make real progress on these goals, enabled by blockchain technology, ”

Chairman of GMEX Group and CEO of FinComEco, Hirander Misra commented: “Our primary concern is providing well-needed infrastructure and resources to unbanked farmers in sub-Saharan Africa, enabling them to feed their families by providing transaction security, eliminating corruption, reducing borrowing costs, and ensuring the liquidity for the purchase of inputs by guaranteeing the sale of produce,”

CEO and Co-Founder of Swarm, Philipp Pieper commented: “This puts Swarm in one of the most exciting places for crypto: ground zero for much of the world’s unbanked. Our strategy is based on using our unique ecosystem to create real value for hundreds of millions of people, enabling them to trade responsibly with an objective of increasing income for farmers, to deliver economic security across Africa. By 2030, the population of Africa will have doubled to 2.5 billion, creating a profound need for a supportive and educational ecosystem that gives farmers a route towards improve their situations, lifting their families out of repetitive cycles of poverty, starvation and dependency. Blockchain and smart contract investments like FarmCoin enable market inefficiencies such as corruption, market access and perception-based debt costs to be removed,”

The Directors of the Company accept responsibility for the content of this announcement.

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About Block Commodities

Block Commodities’ strategy is to maximise the value of African agricultural and other commodities through the deployment of blockchain technology. The resources will be linked through the vertical integration of primary industries down to consumers via blockchain platforms. Using blockchain’s ability to dynamically incorporate all market participants into an efficient ecosystem, Block Commodities aims to facilitate the commercial operation of such ecosystems in the context of the agricultural production cycle.

In reclaiming the value lost in African agricultural and extractive industries through inefficient supply and distribution systems, Block Commodities will help African farmers raise productivity and secure better returns for produce. This is an important step in establishing African communities as significant future global agricultural producers.

About FinComEco

About FincomEco
FinComEco, a fully integrated Financial & Commodities Ecosystem, is a corporate venture to provide an ecosystem of services, financing, capacity building and enablement solutions underpinned by technology, to drive an improvement in food security and economic diversity through socially responsible commercial means (as opposed to charity), to foster financial inclusion.

For more information visit www.FinComEco.com

FinComEco is a subsidiary of GMEX Group, an innovative provider of exchange and post-trade business services and technology. For more information visit

Multi-faceted mandate will support agricultural commodity markets development and financing

Zimbabwe, Mauritius, UK, 21th March 2018. The Government of Zimbabwe, under the aegises of the Ministry of Foreign Affairs and International Trade (MoFAIT) and Ministry of Lands, Agriculture and Rural Resettlement (MLARR) and FinComEco, the fully integrated Financial & Commodities Ecosystem (FinComEco) providing services, financing, capacity building and enablement solutions from supply to demand, have signed a Memorandum of Understanding (MoU) to jointly develop a range of platforms, projects and initiatives in the agricultural commodity markets sector in Zimbabwe.

This is expected to be extended into a Memorandum of Agreement (MoA) subject to approval under the new Joint Ventures Act which came into force in January 2018. FinComEco with local partners and MLARR will then establish a joint venture company to develop high impact initiatives to facilitate agricultural value chain efficiencies through provision of strategic value-added services including an electronic Warehouse Receipt System (eWRS), Exchanges, Trading Platforms, Commodities and Input Finance and Electronic Banking, training and capacity building including the establishment of a commodities exchange underpinned by Blockchain technology.

The mandate will also deliver marketing information and other value-added services, such as market access and policy change interventions, identifying project opportunities in high growth segments of the agricultural industry working together and with appropriate partners including International Development Agencies and Development Finance Institutions as well as the private sector. There will also be investment in existing and new warehouses with related infrastructure and logistics.

Based on estimates, the value-added by FinComEco to the agricultural sector in Zimbabwe will be in excess of US$1.5Bn over a 5 year period in terms of GDP growth resulting in considerable economic and social impact for the population with the GDP per capita of Zimbabwe estimated to increase by 1.5 times between 2018 to 2022 as a result of this and wider initiatives. This is expected to create 90,000 direct jobs in the agricultural sector. According to the Farmers Unions every job created in the farming sector creates 7 more jobs in other related sectors. The FinComEco ecosystem will, therefore, have additional benefits and spill-on effect on other sectors such as construction and creation of new direct and indirect jobs with the creation of additional indirect jobs across all related sectors estimated at 630,000 over a 5 year period.

The Rt Hon Major-General (Rtd) Dr Sibusiso Moyo, Minister of Foreign Affairs and International Trade said, “This collaboration marks the beginning of Zimbabwe’s participation in international trade, which is the backbone of Zimbabwe’s economy.”

The Rt Hon. Perence Shiri, Minister of Lands, Agriculture and Rural Resettlement, Zimbabwe commented, “This collaboration sets Zimbabwe on track to becoming the bread basket of Africa and beyond with access to international markets.” He added, “The FinComEco initiative will promote a viable sustainable agricultural and horticultural sector, by optimising productivity in addition to ensuring ongoing food security and job creation for our country.”

Hirander Misra, Co-Chairman of FinComEco and CEO of GMEX Group added, “We are delighted to be working with the Government of Zimbabwe to facilitate positive economic and social impact for farming communities and related sectors. The whole FinComEco ecosystem will be based on the set-up of the Zimbabwe Commodities Exchange, optimising agricultural inputs, facilitating access to finance and credit facilities, provision of warehousing and logistic facilities to enable GDP growth and job creation.”

FinComEco is enabled by scalable, centralised, de-centralised & Hybrid technology solutions delivered by its partner GMEX Group including the use of Blockchain technology.

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Media contact
GMEX and FinComEco:
Melanie Budden
The Realization Group
+44 (0)7974 937 970
melanie.budden@therealizationgroup.com

Office of the President of the Cabinet (O.P.C.)
Dr. Mutambudzi
+263 (0) 712867335
info@opc.gov.zw

About the Ministry of Foreign Affairs and International Trade (MoFAIT)

The mission of the Ministry of Foreign Affairs is to promote the political and economic interests, image and influence of the Republic of Zimbabwe in the international community and to protect the interests and safety of Zimbabwean nationals abroad through our Diplomatic and Consular Missions abroad, interface with foreign Diplomatic Missions accredited to Zimbabwe and coordination of Zimbabwe’s responses to regional and international development.

The strategic objectives of the Ministry are to promote and enhance Zimbabwe’s national interests and influence in the international community to protect a positive image of Zimbabwe abroad; to protect and secure the interests and safety of Zimbabwe’s nationals abroad; and to coordinate with other Ministries in the formulation and implementation of Zimbabwe’s foreign policy.

About the Ministry of Lands, Agriculture and Rural Resettlement (MLARR)

Ministry of Lands, Agriculture and Rural Resettlement (MLARR) has the responsibility to promote and sustain a viable agricultural sector and to develop and manage land resources through the provision of appropriate technical, administrative and advisory services in order to optimise, technical, administrative and to contribute to equitable and sustainable social and economic development in Zimbabwe.

About FinComEco

FinComEco, the financial and commodities ecosystem is fostering financial inclusion with social responsibility in collaboration with local stake-holders, development organisations, governments and the private sector with the aim of improving food security and economic diversity.
FinComEco has developed a business model, which will, where the ecosystem warrants, be deployed together with financing models designed by its African partners and approved by requisite Central Banks, to solve credit and financing issues that affect small-scale farmers throughout Africa. The linkage of the trading platform to a financing mechanism is a very important part of the FinComEco offering. The initiative looks beyond the typical exchange objectives of reducing costs and increasing transparency as well as focusing on a desperately needed, effective electronic warehouse receipt system. As part of the wider FinComEco model, enabled by scalable technology supported by its partner GMEX Group, FinComEco will work with, local and international partners to facilitate private and development finance funding for the Agri finance initiatives, as appropriate.

The new electronic commodities exchange solution is establishing and reinvigorating local spot exchanges and enabling trade across multiple regions with a focus on the agricultural sector to create a holistic secure financial system.
It includes:

• Price discovery and transparency
• Electronic warehouse receipts
• Trade finance and micro lending facilitation as a distribution hub
• Risk management and hedging
• Integrated Electronic banking and payments platform
• Standards framework
• Traceability and tracking enablement
• Capacity building and education
• Operational and technology consultancy
• Working with trusted local partners

Operational objectives include:

• Maximising the earnings potential for smallholder farmers
• Supporting smallholder farmers to thrive enabled with best of breed-of-technology and inputs (including seeds, fertilisers and pesticides), coupled with a unique Agri-finance business model to solve credit and financing issues.
• Leveraging as well as enhancing current logistics, warehousing and standards to establish a fully vitalised agricultural ecosystem efficiently linking supply to demand.

FinComEco has proven its concept in Malawi at the Agricultural Commodity Exchange for Africa (ACE) through GMEX Group and is establishing fully regulated market places in other African countries and South-East Asia.

Current shareholders include GMEX Group Limited, Saescada Limited and Houghton Street Capital Limited as well as individuals.

For more information visit www.FinComEco.com

Notes to Editors

Benefits to farmers, farming communities and the wider economy in Zimbabwe:

• The whole FinComEco ecosystem will be based on the set-up of a Commodities Exchange, optimising agricultural inputs, facilitating access to finance and credit facilities, provision of warehousing and logistic facilities.
• Registration of land owners/farmers by using enhanced blockchain technology. This will gradually eliminate frauds and encourage efficiency of Government programmes related to agriculture.
• Full use of technology for land management and yield improvement which farmers can use through mobile applications. Purchase and supply of agricultural inputs such as irrigation, fertilizers, soil testing results and seed quality can be optimised.
• Removal of certain non value adding intermediaries which means higher margins on price of commodities sold.
• Lower cost of finance and credit facilities can be approved quickly through electronic warehouse receipts. This will allow farmers to plan crop plantation/rotation early and effectively which will boost crop yields over the long term.
• Provision of warehousing and logistics facilities will allow farmers to focus on growing crops and enhancing yields instead of worrying about storage, finding clients and wastage.
• Working with Government and partners to build or facilitate construction of warehouses and road-related infrastructures and transportation.
• Expenditures related to irrigation projects and flood control measures will also need to be incurred through help of DFIs and International Agencies
• Adequate credit facility facilitation from local, regional and international banks through use of electronic warehouse receipts. This can start from recognition by regional trade blocs such as SADC, COMESA and recognised and adopted by regional banking groups.
• Improvement of marketing facilities through consolidation into co-operatives/major companies or associations to benefit from economies of scale. Logistics and transport services to be linked between warehouse and co-operatives/associations/companies.
• Over the long-term, consolidated operations can seek vertical integration into processing, packaging and transformation into value-addded products.
• Opening the market to suppliers of inputs from friendly nations in joint ventures between Zimbabwe Government/ private businesses who will recognise the electronic warehouse receipts, provide revolving credits to duly registered farmers. This will ensure good supply of agricultural inputs which will be available at appropriate time and through controlled prices.
• The FinComEco ecosystem will gradually built its own database related to agricultural inputs, financing trends, commodity prices, demand and supply which will be important parameters for future reference. Education related to agriculture will also benefit from this programme.
• On the long-term, the ecosystem will allow proper allocation of labour. Surplus labour can be absorbed in value-added agricultural processing, organic agriculture.
• Land reform programme can be monitored, administration set-up can be streamlined and necessary measures can be taken by the Government.

Creating a Commodities Ecosystem to deliver efficiencies across the grain and legume crops value chain in Ghana supported by strategic partner GMEX Group

Accra, Mauritius, London, 22nd November 2017. Ghana Grains Council (GGC) and FinComEco, the fully integrated Financial & Commodities Ecosystem providing services, financing, capacity building and enablement solutions from supply to demand, have signed a Master Collaboration Agreement to jointly develop a range of platforms, projects and initiatives in the agricultural commodity markets sector, especially for grains and legumes in Ghana.

By linking agriculture to the latest financial technology, the joint venture will facilitate grain and legume crop value chain efficiencies through provision of strategic services including electronic warehouse receipts enablement, financing, standards, training and capacity building and the provision of marketing information.

GGC is a private sector-led initiative formed with initial funding from USAID’s ATP and ADVANCE projects. It is a body formed by leaders in the grains business with the aim of positively intervening in the grains and legume value chain to achieve improvement in productivity, quality and greater commercialisation of the industry. GGC oversees 28 certified warehouses across the country, with 99 members including Ecobank Ghana, Agdevco Ghana, Wienco Ghana Ltd, Premium Foods Ltd, CCH Finance House, Agrimat, Glico General Insurance, Inter-Grow Co Ltd, NTHC, ADB Bank, various farmer-based organizations, etc.

Additionally, its advocacy relationship with government and public institutions will enable the collaboration to help facilitate extended market access and influence policy change. GGC and FinComEco will also aim to work with development organisations such as World Bank Group, research bodies and local private sector partners to ensure the success of the collaboration for the benefit of the Ghanaian agricultural sector and associated trading with related agri-financing facilitation. The aim is to develop an effective strategic alignment with the Ministry of Trade & Industry to operationalise the Ghana Commodity Exchange (GCX).

FinComEco will look to provide global best practices in managing robust warehouse receipt systems and other solutions as part of the wider FinComEco model. This includes distribution of third party agri-finance and electronic banking facilitation enabled by scalable technology supported by its partner GMEX Group, which aims be integrated into the commodity exchange ecosystem in due course.

Gideon Aboagye, Chairman of Ghana Grains Council commented, “As a local giant in the promotion of WRS in Ghana, collaborating with FinComEco, a company with an international reputation in the ecosystem, is the right decision to move WRS to a different level, as we move towards the operationalising the emerging commodities exchange.”

Hirander Misra, Founder and Deputy Chairman of FinComEco and CEO of GMEX Group commented, “We are delighted to be working with GGC to bring the FinComEco initiative to Ghana. Our unique collaborative approach is delivering best-of- breed technology, standards and inputs (including seeds, fertilisers and pesticides) to link the supply to demand agricultural value chain.”

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–Ends–

Media Contact:
Francis Ameyibor
Ghana News Agency
Phone: +233277438688
Email: Francis Ameyibor

GMEX Group:
Melanie Budden
The Realization Group
Phone: +44 (0)7974 937 970
Email: melanie.budden@therealizationgroup.com

GGC
Gideon Aboagye
Phone: +233 244 171217

About Ghana Grains Council (GGC)
GCC’s objectives include the responsibility to facilitating grain and legume value chain efficiency in Ghana through the provision of strategic value-added services including regulated warehouse receipting, financing, training and capacity building, provision of marketing information and other value-added services including market linkages, as well as policy change interventions for the agricultural industry.

GGC is a private sector-led initiative formed with initial funding from USAID’s ATP and ADVANCE projects.

It is a body formed by leaders in the grains business with the aim of intervening in the grains value chain to achieve improvement in productivity, quality and greater commercialisation of the industry.

Its core objectives are as follows:

• Develop advocacy capacity – specifically lobby for favourable government policiestowards the grain industry.
• Initiate and develop a new Warehouse Receipt System (WRS). The WRS is responsible for certifying and enforcing agreed standards for the grains industry.
• Increased quality, productivity and profitability by positive interventions within the grains value chain.
• Facilitate workshops and conferences for stakeholders with the goal of improving the current standards within the value chain.
• Facilitate the wide distribution of current market prices.
• Facilitate institutional sales for quality grain that meets agreed industry standards.
• Facilitate an arbitration panel in case of stakeholder disputes.

For more information visit www.ghanagrainscouncil.org

About FincomEco
FinComEco, the financial and commodities ecosystem is fostering financial inclusion with social responsibility in collaboration with local stake-holders, development organisations, governments and the private sector with the aim of improving food security and economic diversity.

The new electronic commodities exchange solution is establishing and reinvigorating local spot exchanges and enabling trade across multiple regions with a focus on the agricultural sector to create a holistic secure financial system.

It includes:

• Price discovery and transparency
• Electronic warehouse receipts
• Trade finance and micro lending facilitation as a distribution hub
• Risk management and hedging
• Integrated Electronic banking and payments platform
• Standards framework
• Traceability and tracking enablement
• Capacity building and education
• Operational and technology consultancy
• Working with trusted local partners

Operational objectives include:

• Maximising the earnings potential for smallholder farmers
• Supporting smallholder farmers to thrive enabled with best of breed-of-technology and inputs (including seeds, fertilisers and pesticides), coupled with a unique Agri-finance business model to solve credit and financing issues.
• Leveraging as well as enhancing current logistics, warehousing and standards to establish a fully vitalised agricultural ecosystem efficiently linking supply to demand.

FinComEco has proven its concept in Malawi at the Agricultural Commodity Exchange for Africa (ACE) through GMEX Group and is establishing fully regulated market places in other African countries and South-East Asia.

Current shareholders include GMEX Group Limited, Saescada Limited and Houghton Street Capital Limited as well as individuals.

For more information visit www.FinComEco.com

About GMEX Group
GMEX Group is a set of companies that offer sustainable and innovative solutions for a new era of global financial markets. Providing business expertise, the latest technology, connectivity & operational excellence delivered through an aligned partnership driven approach. We use our extensive market infrastructure experience and expertise to create an appropriate strategic master plan with exchanges, clearing houses, depositories, registries and warehouse receipt platforms.

Our key business solutions enable the creation and operation of cost effective electronic exchanges and post trade infrastructure in multiple asset classes including equities, debt, FX, derivatives and commodities. We operate in both developing and developed markets through the establishment of cohesive business and technology ecosystems. GMEX offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity.

For more information visit www.gmex-group.com or follow us on Twitter @GMEX_Group

Providing global support and services for expanding group of partner organisations

London, Mauritius 7th June 2017.. GMEX Group, a global provider of multi-asset exchange trading, post trade business solutions and technology today announced the opening of its regional headquarters in the Mauritius International Financial Centre (IFC). Additionally, its newly launched initiative with partners, FinComEco, the integrated Financial & Commodities Ecosystem, providing technology, services, financing, capacity building and enablement solutions across multiple regions in Sub-Saharan Africa and beyond with a focus on the agricultural sector, will also establish its global headquarters in Mauritius.

Both companies, GMEX Holdings Ltd and FinComEco, have obtained regulatory approval from the Financial Services Commission (FSC) to operate as global business companies. The plan over the coming months, subject to satisfying requisite criteria and additional regulatory approvals, is to extend this to be a global headquarters administration license to benefit from significant advantages the country offers as a globally trusted IFC of substance.

GMEX Holdings Limited will provide business and technical services under the GMEX Services banner with global support for GMEX Group entities and the growing list of international partners, stake-holders and technology vendors in the GMEX ecosystem. GMEX Group will also manage its expanding portfolio of market infrastructure and FinTech investments from Mauritius under the GMEX Investments banner.

This move is supported by the Financial Services Promotion Agency (FSPA), which operates under the aegis of the Ministry of Finance and Economic Development and is mandated to develop and promote Mauritius as an International Financial Centre (IFC) of excellence.

Hirander Misra, CEO of GMEX Group & Deputy Chairman of FinComEco commented, “The rapid development of Mauritius as an International Financial Centre and FinTech hub coupled with a skilled multilingual labour pool is making it very attractive for global business and technology focused companies, like us, to establish a major presence. The FSPA, as a government agency, has been instrumental in supporting our establishment in the Mauritius IFC.”

Harvesh Seegolam, Chief Executive of the FSPA, “As a sophisticated and trusted IFC, Mauritius is open to global companies looking at establishing their operations locally to target emerging markets. At the level of the FSPA, our focus is on promoting and attracting activities which are substance based, meet and adhere to international standards and lead to high value job creation for our professionals. In this regard, we are pleased to welcome the GMEX and FinComEco projects in the Mauritius IFC.”

Rt. Honourable Mark Simmonds, former U.K. Minister of The Foreign & Commonwealth office for Africa and Chairman of FinComEco commented, “Mauritius has developed into an excellent international financial centre in which to base a multi jurisdictional African investment platform such as FinComEco.” Adding, “Along with our partners, we look forward to facilitating the full agricultural value chain improving lives, creating jobs and alleviating poverty.”

Mauritius has a strong regulatory framework and is recognized as having implemented the highest internationally agreed standards. The country is one of the first jurisdictions to be included in the Organisation for Economic Cooperation and Development (OECD) White List. A strategically important location for GMEX Group and FinComEco, Mauritius is conveniently located and connected for the various ventures currently being undertaken not only across the African continent but also in the Middle East, Europe and Asia.

In addition to its ecosystem and proven track record in global investments, the Mauritius IFC has a number of bilateral treaties for double taxation and investment protection in place across Africa and the Rest of the World; and is currently growing to include firms delivering a range of bespoke financial products for Africa. Mauritius is a member of a number of regional and global organisations including Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA), the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), and the African Union (AU). As a reputable IFC, the country also adheres to best norms as set by organisations like IOSCO, IAIS, Financial Action Task Force (FATF) and the IFSB.

–Ends–

Media Contact:
GMEX Group & FinComEco
Melanie Budden
The Realization Group
Phone: +44 (0)7974 937 970
Email: melanie.budden@therealizationgroup.com

The Mauritius IFC
The Mauritius IFC
Financial Services Promotion Agency (FSPA)
PR & Communication Department
12th Floor, SICOM Tower,
Wall Street, Ebène, Réduit, 72201
Republic of Mauritius
Phone: +230 401 1200
Email: prcom@fspa.com

About Financial Services Promotion Agency (FSPA)

The Financial Services Promotion Agency (FSPA) is a dedicated parastatal organisation operating under the aegis of the Ministry of Finance and Economic Development. It is mandated by the Financial Services Act 2007 (as amended) for the development and promotion of Mauritius as an International Financial Centre (IFC) of excellence.

The Financial Services Promotion Agency works in line with the vision of the Government to offer the international business community a sophisticated and reputable International Financial Centre of substance for cross border investments into the region and other emerging markets.

The FSPA is the first point of contact for advice and support relating to all matters concerning the financial services sector of Mauritius. The mandate for promoting Mauritius as an investment platform for Africa also rests with the FSPA.

About GMEX Group Limited

GMEX has its registered office at 18 King William Street London, EC4N 7BP with company registration number 08090095. GMEX provides technology and services and has equity stakes in trading venues that are both U.S. CFTC and U.K. FCA approved.

GMEX Group represents a set of companies that offer sustainable and innovative solutions for a new era of global financial markets providing business expertise, the latest technology, connectivity & operational excellence delivered through an aligned partnership driven approach.

GMEX Group has operations in ten countries and is actively engaged in developing the capital markets in these countries across multiple asset classes including equities, debt, FX, derivatives and commodities. GMEX Investments enables selective seed and early stage strategic investments into market infrastructure and related FinTech companies.

GMEX Group is a set of companies that offer sustainable and innovative solutions for a new era of global financial markets. Providing business expertise, the latest technology, connectivity & operational excellence delivered through an aligned partnership driven approach. GMEX uses its extensive market infrastructure experience and expertise to create an appropriate strategic master plan with exchanges, clearing houses, depositories, registries and warehouse receipt platforms.

GMEX’s key business solutions enable the creation and operation of cost effective electronic exchanges and post trade infrastructure in multiple asset classes including equities, debt, FX, derivatives and commodities. GMEX operates in both developing and developed markets through the establishment of cohesive business and technology ecosystems. GMEX offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity.

GMEX comprises
GMEX Group: ensures a cohesive strategic direction is maintained
GMEX Technologies: provides a single point of contact, incorporating account management and commercial & contractual services for all client and partner activities
GMEX Innovation: delivers technologically advanced product solutions for exchange trading and clearing & settlement.
GMEX Services: supplies strategic consultancy, implementation services and global support. This includes exchange business, product and technology strategy, project management and pre- and post- implementation support.
GMEX Investments: enables selective seed and early stage strategic investments into market infrastructure and related FinTech companies.

For more information visit www.gmex-group.com or follow us on Twitter @GMEX_Group

About FincomEco

FinComEco, the financial and commodities ecosystem is fostering financial inclusion with social responsibility in collaboration with local stake-holders, development organisations, governments and the private sector with the aim of improving food security and economic diversity.

The new electronic commodities exchange solution is establishing and reinvigorating local spot exchanges and enabling trade across multiple regions with a focus on the agricultural sector to create a holistic secure financial system.

It includes:

• Price discovery and transparency
• Electronic warehouse receipts
• Risk management and hedging
• Integrated Electronic banking and payments platform
• Capacity building and education
• Operational and technology consultancy
• Working with trusted local partners

Operational objectives include:

• Maximising the earnings potential for smallholder farmers
• Supporting smallholder farmers to thrive enabled with best of breed-of-technology and inputs (including seeds, fertilisers and pesticides), coupled with a unique Agri-finance business model to solve credit and financing issues.
• Leveraging as well as enhancing current logistics, warehousing and standards to establish a fully vitalised agricultural ecosystem efficiently linking supply to demand.

FinComEco has proven its concept in Malawi at the Agricultural Commodity Exchange for Africa (ACE) through GMEX Group and is establishing fully regulated market places in other African countries and South-East Asia. Current shareholders include GMEX Group Limited, Saescada Limited and Houghton Street Capital Limited as well as individuals.

For more information visit www.FinComEco.com