Fortune News | Feb 06,2024
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.
Fortune News | Feb 06,2024
Fortune News | Jun 10,2023
Commentaries | Jul 17,2022
Viewpoints | Dec 04,2022
Radar | Feb 17,2024
Photo Gallery | 98705 Views | May 06,2019
Photo Gallery | 90927 Views | Apr 26,2019
My Opinion | 75633 Views | Aug 14,2021
My Opinion | 71921 Views | Aug 21,2021
May 11 , 2024
The ruling Prosperity Party - the Prosperitians - has its leaders turned to the Publi...
May 2 , 2024
For successive generations of Ethiopia's tax authorities, the chore of tax collection...
Apr 27 , 2024
The Prosperity Party (PP) - Prosperitians - is charting a course through treacherous...
Apr 20 , 2024
In a departure from its traditionally opaque practices, the National Bank of Ethiopia...