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.
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