Ethiopia Stock Exchange ESX, likely to be inaugurated in coming days, is hoping to list over 90 businesses on its boards reportedly. The number of initial public offerings (IPOs) at the maiden bourse could surpass the stocks listed on the Kenyan stock exchange (KSE). So far, ESX has raised 1.6 billion birr in capital against…
The long-awaited Ethiopian Stock Exchange (ESX) will officially start its work this month. The stock market, established on the basis of public and private partnership, has been raising required capital by engaging local and foreign players. Ethiopian Securities Market announced in a press release in March this year that it had raised 1.5 billion birr…
The government of Ethiopia has cancelled Franco Valuta. Franco Valuta was allowed by the Ethiopian government over 2 months ago. Under Franco Valuta, importers can bypass conventional banking channels, use their foreign accounts to import items allowed under the policy. It is generally introduced when there is shortage of foreign currency in the country. In…
National Bank of Ethiopia (NBE) today lifted restrictions on the transfer of money from bank accounts to Telebirr. The Ethiopian banking regulator made this decision after it received complaints about private denying transfer of money to Telebirr. Last month, Ethio Telecom offered 100 million shares for sale. One share was priced at 333 birr. The…
In Tog Wajaale Ethiopia, mobile phone service has been suspended. Tog Wajaale is situated on the border between Ethiopia and Somaliland. Tog Wajaale is the hub of Ethiopian currency’s black market. Ethiopians and Somalis from across the border who want to buy dollars head to Tog Wajaale where hundreds of black market networks are operating….
Ethiopian Prime Minister Abiy Ahmed today accused foreign embassies of running Ethiopian black market. He passed these remarks responding to questions raised by the members of the Ethiopian House of People’s Representatives (HoPR). Prime Minister Abiy Ahmed did not name the embassies involved in black market in Ethiopia. But he said that the embassies are…
The International Monetary Fund (IMF) on Friday appreciated the Ethiopian govt for macro economic reforms. The lending institution, in its executive board’s meeting, allowed disbursement of $340.7 million to Ethiopia while approving the first review of Ethiopia’s $3.4 billion lending program. “The implementation of the authorities’ economic program, including the transition to the new exchange…
Ethiopian Securities Exchange (ESX) has signed a Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE) and the i-Capital Africa Institute. The MoU is aimed at promoting cross-border investments, knowledge exchange, and capacity building. The Nairobi Securities Exchange (NSE) is the third oldest securities exchange in Africa. Ethiopian securities exchange hopes to learn from the Nairobi…
Ethio Telecom on Wednesday released a document called “Ordinary Share Sale Prospectus” for those interested in buying its shares. You can download the document HERE. The state owned Ethiopian Telecommunication company has offered 100 million shares for sale to Ethiopian investors. With 300 fixed as price of one share, any Ethiopian citizen with Ethio Telecom…