|Sector:||Agribusiness and Financial Services|
In 2013, a consortium comprised of 8 Miles, IFC and Morgan Stanley completed an investment in eleni, a newly formed company based in Kenya, led by Dr. Eleni Gabre-Madhin. eleni designs, builds and deploys turn-key commodity exchanges in Africa, including the ancillary supporting infrastructure.
Commodity exchanges have the potential to transform the agricultural sector of a country by creating an efficient and transparent marketplace and improving the sourcing and distribution of key commodities. The founders of eleni bring a wealth of proven operating experience, having built the Ethiopia Commodity Exchange ("ECX") from scratch into an entity with a turnover in excess of $1.2 billion in five years. They are leaders in their field and have won several awards including the Yara Prize for Agricultural Transformation in Africa and the African Banker Icon award.