The Ethiopian Securities Exchange and Bourse de Casablanca signed a strategic cooperation agreement. On the day following the conclusion of the Africa Financial Summit held in Casablanca, the stock exchanges of two of the largest economies on the continent demonstrated their strong will to foster collaboration underscoring a shared vision to bolster dynamic capital markets as engines of economic development.

Established in October 2023 as part of a pioneering public-private partnership in Ethiopia, the emerging Ethiopian Securities Exchange aims to introduce the transformative stock market benefits to accelerate Ethiopia’s remarkable economic dynamic. Meanwhile, Bourse de Casablanca, founded in 1929, stands as the second largest continental exchange, with a market capitalization of USD 76 billion—representing 55% of Morocco’s GDP, a global benchmark of market maturity.

The partnership focuses on several key pillars:

• Leverage the technical and operational expertise of Bourse de Casablanca to support its sister Ethiopian institution in enhancing its technological framework, operational capacity, and risk management to ensure a seamless and secure trading platform
• Share Morocco’s experience in developing its stock market, particularly through significant financial reforms since 1993, culminating in the recent launch of the derivatives market, and the progressive New Development Model roadmap for the Moroccan exchange
• The collaboration aims to deepen ties between Ethiopian and Moroccan business communities, fostering trade and investment opportunities between the two nations
• Explore new opportunities, such as the development of joint products, dual listings, and shared financial education initiatives
• Together, champion Africa’s interests on global and regional financial platforms, advocating for tailored frameworks and solutions that accelerate the development and integration of African markets

The collaboration also emphasizes the promotion of ESG (Environmental, Social, and Governance) practices, a key driver for encouraging responsible investment and supporting sustainable economic growth.

Through this initiative, the two exchanges share a common goal: to expand access to stock market financing, strengthen market liquidity, contribute to the economic development of their respective countries and strengthen financial integration across the continent.