On September 16, 2015, the first ever electronic warehouse receipt was issued to a farmer in exchange for 50 tons of maize at Grain Silo Services (GSS) in Lusaka.
The Zambian Agricultural Commodity Exchange (ZAMACE) requested Trade Hub support for the development of a Warehouse Receipt System (WRS) after witnessing the success of the Trade Hub-supported Warehouse Receipt Systems in Malawi and Mozambique in providing farmers with access to cheaper finance, higher prices, and safe storage for their crops.
GSS issued the warehouse receipt using a web-based electronic platform developed by the Trade Hub based on similar systems developed by the Trade Hub in Malawi and Mozambique.
There is significant potential for the development of an extensive ZAMACE WRS in Zambia in the grain and oil seed sectors. Emerging farmers in Zambia already extensively use mobile technology platforms to receive money transfers and market information – technologies that will complement the web-based WRS.
Photo: Warehouse manager Gavin Muteto displays the first-ever electronic warehouse receipt issued in Zambia following months of Trade Hub support; behind him are GSS Managing Director Tanya Licopoulos and ZAMACE CEO Jacob Mwale