The creation of the Ethiopian Securities Exchange (ESX) seems to be finally happening after initial finalization announcements in 2020. The Ethiopian Ministry of Finance, the Ethiopian Investment Holdings, and FSD Africa on Wednesday, May 18, signed a cooperation agreement to establish ESX. When Prime Minister Abiy Ahmed came to power in 2018, the country was opening up more, seeking to pursue economic reforms and establish a stock exchange governing body. Now, it seems that Ethiopia will finally have a functioning exchange, which will make it the 30th exchange on the continent. Throughout this process, the African Securities Exchanges Association (ASEA) will link 7 African capital markets together, which will help companies bring in new capital and create value for shareholders.

Source: Ethiopian News May 18, 2022 11:00 UTC