Addis Ababa – September 20, 2025 — The Ethiopian Securities Exchange (ESX) has announced the appointment of an expanded and diverse Board of Directors, a move aimed at strengthening the country’s emerging capital market and reinforcing its commitment to transparency and inclusivity.

A Diverse and Strategic Board

The newly appointed board brings together key figures from Ethiopia’s financial sector, prominent economists, and international market leaders. Their collective expertise is expected to guide ESX as it builds the country’s first regulated securities marketplace.

The new board members include:

• Awash Bank Share Company, represented by Mr. Berhanu Balcha
• Dr. Tewodros Mekonnen, leading Ethiopian economist
• Eastern and Southern Africa Trade and Development Bank (TDB), represented by Mr. Abraham WoldeMichael
• Enat Bank, represented by Dr. Ermias Andarge
• Ethiopian Investment Holdings, represented by Dr. Brook Taye
• Ethiopian Reinsurance, represented by Mr. Fikru Tsegaye
• Mrs. Mekdes Mezgebu, financial sector professional
• Mr. Helaway Tadesse, independent market expert
• Ms. Hinjat Shamil, private sector leader
• Nigerian Exchange Group, represented by Mr. Temi Popoola
• Nyala Insurance Share Company, represented by Mr. Yared Mola

Strengthening Ethiopia’s Financial Infrastructure

The Ethiopian government has prioritized the creation of a modern securities exchange as part of its broader economic reforms. ESX is expected to play a pivotal role in mobilizing domestic savings, attracting foreign investment, and creating a transparent marketplace for stocks, bonds, and other financial instruments.

By including both local institutions—such as major Ethiopian banks, insurance firms, and investment holdings—and international players like the Nigerian Exchange Group, the board reflects a deliberate strategy to blend global expertise with local knowledge.

Building a Transparent and Inclusive Market

In its announcement, ESX emphasized that the new board “reaffirms its commitment to building a transparent, inclusive, and vibrant capital market for Ethiopia.” This aligns with Ethiopia’s ongoing financial sector liberalization, including the gradual opening of its banking industry to foreign participation and the rollout of regulatory frameworks for capital markets.

Next Steps for the Exchange

With the board now in place, ESX is expected to accelerate preparations for its first listings and trading operations. The presence of seasoned economists and regional market operators suggests a focus on robust governance, investor confidence, and the adoption of best practices from more mature African markets.

As Ethiopia continues its economic transformation, the Ethiopian Securities Exchange is poised to become a cornerstone of the country’s financial future—providing a platform for companies to raise capital, for investors to diversify portfolios, and for the nation to deepen its integration into the global economy.