Ethiopian Securities Exchange to Commence Operation Coming October

Addis Ababa: The Ethiopian Securities Exchange (ESX) will commence its operation in October 2024, ESX Director-General Tilahun Kassahun told the Ethiopian News Agency.He said that preparations, including collecting finances, have been carried out to get license from the Capital Market Authority.The director-general disclosed the ESX, which was expected to raise 500 million Birr capital, has raised over 1.26 billion Birr.Awareness creation activities are being carried for private financial institutions and non-financial institutions that have the desire to participate in capital market, Tilahun pointed out.The Ethiopian Securities Exchange will commence its operation in October 2024 as the required human resource and technology inputs are fulfilled, he said.Tilahun praised the government for creating an enabling environment to realize ESX by establishing the Ethiopian Capital Market Authority, issuing proclamation, and meeting other conditions.According to him, the ESX will be a good option for Et hiopia's growing economy and financial demand.The ESX will have great role in creating job opportunities, carrying out huge projects, expanding agriculture and accelerating economic growth.As the pioneer securities exchange, ESX aims to play a critical role in the development and growth of the Ethiopian capital market as its core objective is to facilitate access to capital and support effective capital allocation in a manner that supports Ethiopia's economic growth.Source: Ethiopian News Agency