DGCX Signed MoU to Expand Footprints in African Gold Market

SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) announced that it has signed a Memorandum of Understanding (MoU) with the Financial Markets Regulatory Authority (FMA) in Sudan. This is aimed at strengthening bilateral cooperation in the trading of gold between the UAE and Sudan. The MoU will see that DGCX and FMA collaborate on several area of mutual benefit, including exchange of knowledge in gold trading.

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The collaboration with DGCX will play an instrumental role in driving the growth of gold trading, not only in Sudan, but also in the entire African region. The country, with an average gold production of 70-100 tonnes per annum, will see significant economic development, as a result of the partnership. The Sudanese regulatory authority plans to launch new products and services to its customers, by tapping DGCX’s deep knowledge and expertise in commodities trading.

Commenting on the development, Les Male, CEO, DGCX said that the exchange is delighted to have entered into first of several collaborations this year. It aims to bring tremendous value to FMA and Sudanese gold export market. At the same time, it will help DGCX to expand its international footprint and boost cross-border trading.