Transcript: Winning the Farmers Trust

NARRATION: THE COMMITTMENT THAT BROUGHT ELENI BACK TO ETHIOPIA, TO REFORM THE WAY FOOD IS TRADED, HAS BEEN FORCED TO TAKE A BACK SEAT TO COFFEE. AND THE ECX HAS LOST TOUCH WITH THE VERY PEOPLE IT MOST NEEDS AND WHO MOST NEED IT: THE MILLIONS OF SMALL-SCALE FARMERS... LIKE MEKONEN…

NARRATION: NOW IT’S PLANTING SEASON, THE MOST CRUCIAL TIME OF THE FARMING CALENDAR.

MEKONEN MOTBAYNOR (SUBTITLE – AMHARIC) OK, it’s good.

NARRATION: BUT WITH THE ECX STILL STRUGGLING TO MAKE HEADWAY ON GRAIN, MEKONEN’S FORTUNES AND THOSE OF HIS FAMILY REMAIN AT THE MERCY OF ONE THING, AND ONE THING ONLY: THE RAIN.

MEKONEN MOTBAYNOR (SUBTITLE – AMHARIC) If it doesn’t rain, the crops won’t be able to grow. If the crops don’t grow, then it will not be possible to live. If there is no food, what can we eat?

NARRATION: FINALLY, THE COFFEE CRISIS IS COMING UNDER CONTROL: THE ECX OPERATION IN DIRE DAWA IS OPEN FOR BUSINESS, THE LEAKY WAREHOUSE HAS BEEN REPAIRED.

BEN ASCHENAKI Ahhhh…

ELENI GABRE-MADHIN Hah!

NARRATION: THERE IS A SENSE OF RELIEF BUT NO TIME TO REST. THERE IS THE ESSENTIAL AND UNFINISHED BUSINESS OF MAKING SURE SESAME AND GRAIN GET TRADED. THERE IS A COUNTRY TO BE FED.

ELENI GABRE-MADHIN (SUBTITLE – ENGLISH) I think we should go to a daily market in grains quickly. BEN ASCHENAKI Yes.

ELENI GABRE-MADHIN (SUBTITLE – ENGLISH) You know we took a big battering with this coffee business. Sesame is our ticket out of that mess.

AHADU (SUBTITLES – ENGLISH) But there’s a lot to do. We just need to get some liquidity going.

ELENI GABRE-MADHIN Ben’s on it, Ben’s on it… Ben, a bag,

ELENI GABRE-MADHIN (SUBTITLE) Get a bag in the warehouse and we’ll bloody sell that bag.

But we have to act fast.

NARRATION: AND FOR BEN THAT MEANS BACK TO THE DIRT AND DUST OF HUMERA WHERE THE SESAME TRADING SEASON IS DRAWING TO A CLOSE. IF HE CAN'T CONVINCE AT LEAST ONE FARMER TO DEPOSIT HIS SESAME IN THE ECX WAREHOUSE, THEY WILL HAVE FAILED AN IMPORTANT TEST.

TELKAY WOLDE (SUBTITLE – TIGRINYA) The farmers have some concerns. They ask, “Is this commodity exchange really going to connect us to buyers?” They want to see what happens with the Exchange before they join

NARRATION: DESPITE THE TEAM’S BEST EFFORTS, LOCAL FARMERS REMAIN SKEPTICAL. AND THE WAREHOUSE STANDS EMPTY.

BEN ASCHENAKI We have had a team here for two weeks, just hammering. There’s been a lot of resistance from the cooperatives, from the traders, from the brokers, nobody—there’s just a lot of false rumors going about ECX. So we’ve been just fighting an uphill battle.

NARRATION: TIME IS RUNNING OUT TO GET SESAME TRADING UP AND RUNNING. CONCERNED THAT BEN HAS HIT A WALL IN HUMERA AND WON’T BE ABLE TO CONVINCE PEOPLE TO JOIN THE ECX, ELENI OPENS A SECOND FRONT IN GONDAR, A REGIONAL HUB OF SESAME TRADING.

ELENI GABRE-MADHIN This is a last ditch effort, because the season is winding down and we need to get the suppliers in.

NARRATION: ELENI HEADS STRAIGHT TO LUNCH WITH SOME OF GONDAR'S MOST POWERFUL SESAME TRADERS.

ELENI GABRE-MADHIN (SUBTITLE – AMHARIC) How are you?

SESAME TRADER 1 (SUBTITLE – AMHARIC) - Fine.

ELENI GABRE-MADHIN (SUBTITLE – AMHARIC) Hi. What’s your name?

SAHALU (SUBTITLE – AMHARIC) - Sahalu.

ELENI GABRE-MADHIN (SUBTITLE – AMHARIC) Sahali?

SAHALU (SUBTITLE – AMHARIC) - Sahalu.

ELENI GABRE-MADHIN (SUBTITLE – AMHARIC) Alright then. What have you heard about the Ethiopia Commodity Exchange?

SESAME TRADER 1 (SUBTITLE – AMHARIC) - Let me tell you what people are saying. They see you, your company, as an exporter or someone who sells directly to exporters.

SESAME TRADER 2 (SUBTITLE – AMHARIC) - I also heard something similar. That all the middlemen would be cut out and there would be no such thing as brokers anymore.

ELENI GABRE-MADHIN (SUBTITLE – AMHARIC) To think that this is a disadvantage for the broker is wrong. Because this is a place where the broker is trustworthy. You have to believe that this thing gives support to the producers and the local traders. It won’t destroy them. It will make them better.

NARRATION: ELENI CALLS BEN TO UPDATE HIM AND TO CHECK IN ON DEVELOPMENTS IN HUMERA.

ELENI GABRE-MADHIN Ben.

BEN ASCHENAKI (SUBTITLES – ENGLISH) - Hey Eleni.

ELENI GABRE-MADHIN (SUBTITLES – ENGLISH) How are you?

BEN ASCHENAKI (SUBTITLES – ENGLISH) - Hot.

ELENI GABRE-MADHIN Where are we?

ELENI GABRE-MADHIN (INTERVIEW) So Ben’s up in Humera trying to convince people to deposit sesame. And meanwhile I’m in Gondar and realizing that Gondar is actually a big market. ELENI GABRE-MADHIN (SUBTITLES – ENGLISH) I think Gondar should be the base. In fact I really like the whole idea of working out of Gondar. I don’t know, I haven’t seen the Humera place, but, you know, it sounds like it’s a disaster.

ELENI GABRE-MADHIN (INTERVIEW) So it was one of those strategic moments where either we’re going to, you know, just give up on Humera and focus on Gondar, or, basically, keep up the two fronts. So I said listen, if you can’t get anybody to come, then forget Humera, come down to Gondar.

ELENI GABRE-MADHIN (SUBTITLES – ENGLISH) We’re behind! We’re way behind. You need to come here and have the meeting here.

AARON BROWN And Ben is saying I can do this? I can make this work.

ELENI GABRE-MADHIN (INTERVIEW) Yeah, Ben is saying, “Give me one more day, give me one more day. I can do it, I can do it, I can do it.”

BEN ASCHENAKI (SUBTITLES – ENGLISH) We’ve put so much work into this. For us to actually give up and go back is just heartbreaking.

NARRATION: WITH TIME RUNNING OUT, THE TEAM WAITS… AND HOPES.

BEN ASCHENAKI It’s a good day today. We got our first deposit of sesam—sesame seed. We’re very excited. We thought it was just finished. But we just kept hammering, and just today they said, “Can we deposit? We have 1200 quintals, is that too small?” So we said, “Ppffft, bring it in!” So they came in…it’s just hugely exciting. Hopefully this news will go around that somebody has deposited.

NARRATION: THIS IS WHAT SUCCESS LOOKS LIKE. GETTING FARMERS TO BRING BAGS TO THE WAREHOUSE. BEN’S PERSEVERANCE PAYS OFF WHEN ONE LOCAL FARMER DECIDES TO TAKE A CHANCE ON THE ECX.

TEKLAY WOLDE (SUBTITLE – TIGRINYA) This is a new concept. However, I think the ECX offers a lot of opportunities. I think it has a great number of advantages.

BEN ASCHENAKI (SUBTITLE – ENGLISH) It’s a small step, but I think the message it carries with it is just huge. The farmers are going to see there is a system that they can rely on. I think that’s the most important thing.

BEN ASCHENAKI What’s going on? Are you ready to buy some sesame?