The long-awaited Ethiopian Securities Exchange (ESX) is set to take off at the end of November 2024, marking a monumental step in the country's economic transformation.
This isn't just another exchange; it's a symbol of Ethiopia's commitment to fostering a vibrant private sector and opening doors to unprecedented investment opportunities.
Launched in October 2023, the ESX is already making waves. Its initial capital raising effort was a resounding success, exceeding expectations by a whopping 240% With over 1.5 billion birr secured.
The ESX has attracted a diverse group of 48 domestic and foreign investors, including heavyweights like FSD Africa, the Trade and Development Bank Group (TDB), and the Nigerian Exchange Group (NGX).
Tilahun Esmael Kassahun, the CEO of the ESX, is beaming with excitement. "This is a testament to the confidence investors have in Ethiopia's future," he declared. "The ESX is poised to become a catalyst for growth, empowering entrepreneurs, and driving sustainable development across all sectors."
The ESX will be headquartered in a historic building in Addis Ababa, formerly home to the state-owned television station. This iconic location will now be a bustling hub for buyers and sellers, where the future of Ethiopia's economy will be shaped. And the ESX isn't alone!
The Ethiopian Capital Market Authority and Ethiopian Investment Holdings will also call this building home, creating a powerful financial ecosystem under one roof. The story is from capital news.