The Ethiopian Securities Exchange (ESX) announced that it has been taking a final step to register five giant companies over the next six months.
Recall Prime Minister Abiy Ahmed officially launched the Ethiopian Securities Exchange early this year, the first stock exchange in the country.
“In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange, the first stock exchange for our country,” the Prime Minister said.
He also elaborated that: “Invest in Ethiopia—a fast-growing economy with immense potential and a dynamic trajectory toward prosperity.”
CEO of Ethiopian Securities Exchange Tilahun E. Kassahun told local news agency ENA that the ESX has already become operational through its requisite infrastructure and legal framework.
According to him, ESX’s early-stage operation is also meeting those listing requirements and international stock market standards.
He noted that one bank has already entered the market and emphasized the plan to register at least five companies over the next six months.
The CEO has also disclosed the plan to incorporate up to 50 companies for the next five years.
ESX is highly anticipated to unlock new avenues for businesses and investors by driving economic development and fostering financial inclusion across Ethiopia.
In this respect, Tilahun highlighted that both local and foreign investors have expressed interest in engaging with the market, particularly in attractive financial products such as interbank money market instruments and government bonds.
He mentioned that promotional efforts are currently focused on countries with robust pension collection and savings cultures.
Consequently, key markets such as South Africa, London, Dubai, and New York have been identified as primary locations for promoting ESX, he stated.
Furthermore, he indicated that the promotion of various financial products offered by ESX is being conducted through multiple platforms.
He also pointed out that ESX has established partnerships with the capital markets of Casablanca, Nairobi, and other African and East African Capital Market Associations.
These partnerships are expected to significantly enhance operational activities, he said.
Source: FMC
