PANEX set to disrupt the financial services sector

Yesterday at an exclusive media briefing, PANEX CEO, Jacob Maaga confidently stated that they will be making history in Zambia by enabling every single individual to buy government bonds starting at as low as 100 Kwacha whereas the previous minimum amount was 30,000 Kwacha.

According to a media release, PANEX trading members have started signing up clients to purchase government bonds starting with as low as K100 and also trade commodities.

PANEX is a technology-driven cloud-based exchange designed to trade bonds, equities, and derivatives. We aim to democratize access to financial services in Zambia and Africa and encourage investments in the Equity and Commodity Markets and physical market infrastructures such as grading facilities, information systems, and warehousing structures which will facilitate trade. PANEX is licensed as a Securities and Commodities Exchange in Zambia by the Securities and Exchange Commission (SEC).

As a multi-asset exchange, we are committed to providing a world-class platform for market participants to trade in a broad spectrum of commodities, currency, stock derivatives driven by best global practices, professionalism, and transparency.

Our range of dynamic products are geared to the general public, Farmers (Small scale and Commercial farmers), Agro-processors, traders both domestic and international, who are looking for investment opportunities, price discovery, financing, hedging and arbitrage opportunities. Initially, the exchange will offer the following products:

  • Government Bonds & T-Bills

  • Commodities Derivatives

  • Currency Derivatives

  • Warehouse Receipt Financing

Further more, the PANEX CEO revealed that,

For the first time, farmers in Zambia will have benchmark pricing for their produce. They will also be able to hedge against risk associated with farming. We [PANEX] will also facilitate financing through the electronic warehouse receipt system and provide market access through the futures contracts.

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Author: Staff Writer

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