IFC and the Ethiopian Capital Market Authority (ECMA) today announced a program to support the growth of the country’s domestic capital markets and increase access to local currency finance. Under the four-year Ethiopia Capital Market Development Project, IFC will work with ECMA and other key stakeholders to develop capital market regulations, increase the efficiency of the government securities market, develop the domestic institutional and retail investor base, and increase the supply and issuance of capital market transactions. Capital markets in Ethiopia have the potential to support the financing of key development sectors including housing, infrastructure, agribusiness, small businesses and climate mitigation and adaptation activities. ECMA will work with all partners and stakeholders to develop a well-regulated capital market that will help actualize a functioning and burgeoning bond market in Ethiopia,” said Dr. Brook Taye, Director General, Ethiopian Capital Market Authority. “Liquid, diverse and well-regulated local capital markets are an essential source of local-currency financing for the government, financial sector participants, and for end users such as small businesses.

Source: Ethiopian News November 24, 2023 02:59 UTC