The Ethiopian Securities Exchange (ESX) proudly announces it has received official operational license from the Ethiopian Capital Market Authority (ECMA).
The Government of Ethiopia, as part of its economic reform to ensure national development by undertaking numerous strategic initiatives, has notably revised its policies and legal frameworks to enable the private sector to play a broader role in the economy, particularly in the telecommunications and financial sectors, allowing for the participation of both domestic and foreign investors.
This week, Ethio Telecom will become the first company to list on Ethiopia's newly established stock exchange : Ethiopian Securities Exchange (ESX), with the government selling a 10% stake in the state-owned telecom provider. This move marks a major milestone in Prime Minister Abiy Ahmed's ambitious strategy to open Ethiopia’s economy to private investment and privatize key state-owned enterprises.
Ethiopia has issued a legal directive that will govern the licensing of capital market service providers as the nation seeks to consolidate the securities and exchange sector. The directives came into effect on January 18th, 2024.
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