The Ethiopian Securities Exchange (ESX) has announced its official launch, scheduled for January 2024. According to Dr. Tilahun Ismail, the institution’s CEO, the ESX has been undertaking extensive preparatory activities over the past year to bring this initiative to fruition.
Yodit Kassa, Chief Business Development Officer of the ESX, highlighted the development of a digital academy aimed at modernizing the securities industry and boosting its capacity. She emphasized that favorable investment opportunities have been created for local financial institutions, including banks and insurance companies, enabling them to strengthen their ownership in this groundbreaking market.
Yodit also noted that the process of share sales, initiated with Ethiopia Telecom, will extend to other companies. Additionally, government treasury bills will be sold through the exchange. She added that efforts are underway to legally register and integrate over 400,000 shareholders in Ethiopia’s financial sector into the ESX.
Dr. Tilahun further revealed plans to introduce a Sharia-compliant interest-free trading system alongside the regular trading platform. This initiative aims to ensure inclusivity and cater to diverse investor needs.
The launch of the Ethiopian Securities Exchange marks a historic milestone in the country’s financial sector, laying the foundation for a more dynamic and robust capital market.
