The Ethiopian Securities Exchange (ESX), a major advancement in the nation’s financial framework, is scheduled to officially launch in early January. This initiative represents a pivotal step in Ethiopia’s national economic reform efforts to strengthen collaboration between the public and private sectors.
Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, emphasized that the ESX is designed to create new investment avenues, foster entrepreneurship, and promote sustainable development across various economic sectors. He also noted, “We have witnessed participation from 48 domestic and foreign investors spanning multiple industries.”
The CEO stated that the introduction of the Stock Exchange will also significantly enhance the opportunities for capital raising for investments by both the government and the private sector.
A framework has been put in place for companies listing shares on the Stock Exchange to consistently assess and disclose their financial statements.
He further mentioned that a system has been implemented to allow shareholders to execute transactions based on accurate information. Additionally, it was noted that this institution will serve as an alternative to meet the increasing economic and financial demands in Ethiopia.
Founded in October 2023, the ESX functions under the Capital Market Proclamation No. 1248/2021, which promotes collaboration between joint stock companies and the private sector.
Source: FBC
