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 from local and foreign investors. Dr. Tilahun Ismail, the CEO of ESX, back then said ESX planned to collect 631 million birr, but it surpassed the target and collected 1.5 billion birr. 48 domestic and foreign investors including FSD Africa, the Trade and Development Bank Group (TDB), and the Nigerian Exchange Group (NGX) are part of the new bourse.
Established in October 2023, the ESX operates under the provisions of the Capital Market Proclamation No. 1248/2021, which facilitates cooperation between joint stock companies and the private sector. The stock exchange will operate from the former state-owned television station building in Addis Ababa, the Ethiopian capital. In addition to the ESX headquarters, the building will also house the Ethiopian Capital Market Authority and Ethiopian Investment Holdings.
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