FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo

 Securities Exchange Soars Above Capital Raise Target

Apr 4 , 2024

The Ethiopian Securities Exchange (ESX) has achieved a remarkable feat, surpassing its initial capital requirement by more than twofold. Raising a total of 1.51 billion Br capital, the Exchange paves the way for establishing Ethiopia's first stock exchange.

According to Tilahun Kassahun, CEO of the Exchange, the substantial capital raise signals strong investor confidence, with participation from both domestic and international markets. Local investors include 16 private commercial banks, 12 insurance companies, and 17 institutional investors. State-owned enterprises under the Ethiopian Investment Holdings have also chipped in with 275 million Br, along with FSD Africa.

Transparency is a priority for the ESX, according to Tilahun, confirming that the final list of investors will be made public once finalised. The involvement of foreign investors is particularly noteworthy for him, with the Trade & Development Bank Group and the Nigerian Exchange Group joining the venture.

The ESX has opened a draft Exchange Rulebook for public consultation, outlining the criteria for membership, trading procedures, transaction requirements, and settlement processes.

"Public input will be instrumental in shaping the operational structure," said Tsegaamlak Solomon, general counsel.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Productivity Gains Depend on Bold Firms, Not Broad Reform

Few doubt that productivity growth is good for society. It generally translates into...

War on Malaria Winnable But Africa Needs a Plan to End It

Despite being preventable and curable, malaria has continued to claim African lives....

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Courting Foreign Buyers of Properties While Land Remains State-Owned

May 31 , 2025

It is seldom flattering to be bracketed with North Korea and Myanmar. Ironically, Eth...

A Country on Life Support Must Not Neglect Its Healers

May 24 , 2025

Public hospitals have fallen eerily quiet lately. Corridors once crowded with patient...

Researchers Churn Out Studies by the Ton. Quality Checks are Causality

May 17 , 2025

Ethiopia pours more than three billion Birr a year into academic research, yet too mu...

Ethiopia's Aid Reckoning Demands a Homegrown Rescue Plan

May 10 , 2025

Federal legislators recently summoned Shiferaw Teklemariam (PhD), head of the Disaste...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

A Dream Taxed to Death

Six years ago, a dear friend took a leap. He poured his life savings into building a business not for quick profits, but to create something...

The Subtler African Stories Lodged in Luxury

Every family has its ritual, one that bookmarks the year and brings everyone back to center. For ours, it...

Life Matters

The Dangers We Brew

It is unsettling how often news surfaces of everyday household items leading to accidents, some unexpected, others devastating. A recent rep...

Healing the Healers

Reliable information about the recent strike by health professionals in Ethiopia has proven elusive. The public discourse is muddied by sens...