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Ethiopia: Is ECX at it again? ECX’s upcoming procurement bid

Posted on 30 November 2012

The Ethiopia Commodity Exchange (ECX) is currently conducting a high-ticket international procurement - the first of its kind since a multi-million dollar bid was busted in 2010 due to alleged fraud and corruption during the bidding process.
The bid for the supply, installation, and maintenance of a futures trading software that ECX floated back in 2010 was marred by dishonest maneuvering, seemingly to favor the Sri Lanka based company, Millennium IT, and World Bank withdrew ECX’s award proposal and cancelled the loan. The loan was part of what the government had borrowed from International Development Association (IDA) for the purposes of financing the Rural Capacity Building project………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 34673 posts on Opalesque Commodities Briefing.


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