Abuja Securities and Commodity Exchange Plc
Expression of Interest (EOI) from Private Warehouse Operators to Provide Third Party Warehousing Services.
The Abuja Securities and Commodity Exchange (ASCE) with the support at the World Bank (WB) have commenced the development of a Warehouse Receipt System (WHR) that will enable farmers use their stored commodities to secure credit from banks.
The WHR System will be used as a tool for the development of rural agricultural marketing and as a basic infrastructure to revitalize the Exchange. This will strengthen small and medium scale farmers and invariably create jobs and a sustainable economic growth, which falls in line with Government’s Transformation Agenda.
The WHR System will also improve the livelihood of farmers as they will be able to deposit their produce in standard warehouses and defer sale till the price of their commodities appreciate. They may then use the WHR’s as collateral to obtain loans from banks to enable them meet other obligations. The receipts may also be traded on the exchange, thereby enhancing liquidity.
There are however, certain physical, regulatory and institutional infrastructure needed for the success of a WHR System; one of which is a network of standard warehouses.
It is in this regard that the ASCE with support from the WB is undertaking a National Warehouse Inventory of public and private warehouses in order to determine the available warehousing capacity. To support this exercise, we are calling for Expression of Interest (EOI) from private warehouse operators who will be willing to provide warehousing services as a business to partner with the Exchange in the implementation of the WHR system.
The EOI should address all the under listed enquiries:
- Warehouse Location and Accessibility by Rail, Road and Water.
- Warehouse Description with photographs
- Warehouse Capacity
- Available Commodity Handling Equipment
- Commodities of interest
- Years of Experience in Warehouse and Collateral Management
- Years of Experience in grading and certification
- Ability to provide Fidelity Guarantee or Performance Bond, if and when required
- Type of entity
- Name of Insurer
- Corporate Profile
- Level of staffing
- Any Litigation against the company
The EOI should be addressed to:
The Managing Director/CEO
Abuja Securities and Commodity Exchange
397 Muhammadu Buhari Way,
Central Business District
P.M. B. 404 Garki, Abuja
And should reach the Exchange not later than 17th December 2012.
Signed
Management
