MECHANDISER
Morgan Stanley & IFC
Invest in eleni LLC eleni LLC, a newly formed company led by CEO Dr. Eleni Gabre-Madhin, recently announced that Morgan Stanley and IFC (International Finance Corporation) have both agreed to make an equity investment in the Nairobi, Kenya-based company which will incubate and support the formation of commodity exchanges across Africa, helping to promote food security. Building on the success of the highly acclaimed Ethiopia Commodity Exchange (ECX), which she founded and managed from 2008 to late 2012, Gabre-Madhin and co- founders recently launched eleni, which is positioning to be the industry leader in designing, building, and supporting the operations of commodity exchange eco-systems in frontier markets. The Company’s business model is based on delivering
turnkey projects on a Public-Private Partnership basis, combining private investment with the best of know- how, technology and management, to support exchange projects. The Company expects to launch several such projects this year. “I cannot think of a better time to develop this business
in Africa ... the world’s last frontier for agriculture, with only one quarter of its yield potential achieved and 70%
of its farmland as yet unused. Our aim is to build vibrant exchanges across frontier economies, going beyond Africa and beyond agriculture, to transform not only commodity markets but also the livelihoods of millions of producers,” commented Dr. Eleni Gabre-Madhin. Funding of US$5 million for eleni LLC has been raised by
investments from Morgan Stanley, which has invested in a number of exchanges and market centres around the world, and IFC, part of the World Bank Group, the largest global development institution focused exclusively on the private sector, which will invest up to US$2.5 million. Beyond the initial funding, each country or regional exchange project will involve the formation of a private investor consortium. “Morgan Stanley is pleased to join with IFC in supporting eleni and its vision of improving transparency and liquidity in agricultural markets in the developing world, where food security is often a pressing concern. We look forward to bringing our expertise to help eleni achieve positive social and economic impact,” said Gary Offner, Managing Director of Morgan Stanley, “Africa is a strategic priority for IFC, and, by improving the functioning of commodity markets, this project will enhance productivity and risk management. It will also make finance more accessible for farmers, helping them to increase their share of the final price and get paid more quickly,” Georgina Baker, Director Trade and Supply Chain, IFC, noted.
www.eleniexchanges.com
Investment strategy for agriculture investors, asset managers and producers
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Agriculture Investment Summit is where you will meet leading agriculture investors and key stakeholders who are committed to promoting sustainable and responsible investing in agriculture. The 6th annual conference is a forum for investors, managers and producers to forge solid relationships and make profitable and investment decisions.
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