Securities Exchange Unveils Inaugural Board Ahead of Launch

Oct 7 , 2023


[ssba-buttons]

In a seminal move poised to shift the terrain of Ethiopia's economic landscape, the Ethiopian Securities Exchange (ESX) has unveiled its inaugural board of directors, with preparations set to finalise within the ensuing three months. At the helm, former Zemen Bank VP, Hilaway Tadesse, will steer the institution as a chairman, joined by an assemblage of eminent professionals,  including Eleni Gebremedhin (PhD), the progenitor of the Ethiopian Commodity Exchange (ECX), and Fikadu Petros, a distinguished legal expert. The announcement made by executives of Ethiopian Investment Holdings marks a step towards the inception of the ESX. Four state-owned enterprises – Ethio telecom, Ethiopian Shipping & Logistics (ESL), Ethiopian Insurance Corporation (EIC), and Birhana Selam Printing Enterprise (ESPE) – have been slated as founding members of the ESX, which is to permit a generous 75pc ownership stake to the private sector, a manoeuvre seen as the federal government's commitment to forging robust private sector alliances. The unveiling of the ESX Board, and the confluence of state enterprises and the substantive inclusion of private sector ownership, is expected to establish a paradigm in the investment arena, heralding opportunities in its nascent journey for mobilising capital.


Radar

US Renews National Emergency, Sanctions on Ethiopia

The United States has extended the national emergency and sanctions on Ethiopia for another year under the African Growth & Opportunity Act (AGOA). Signed by President Donald J. Trump, the measure was first declared on September 17, 2021, through an executive order citing the conflict in northern region of the country as an "unusual and extraordinary" threat to U.S. national security and foreign policy. The extension, effective until September 17, 2026, keeps in place restrictions targeti...


Radar

Rockefeller Pitches Clean Cooking to Curb School Meal Emissions

A recent study has revealed the staggering environmental toll of school feeding programs. A single school serving 400 students can burn through the equivalent of 56 hectares of forest each year to fuel cooking. The Rockefeller Foundation flagged the health risks too, with most cooks, predominantly women, breathing smoke levels ten times higher than the World Health Organisation's safe limit. "If every school meal transitioned to clean cooking with electricity and solar, the emissions saved wo...


Radar

Sun-Powered Grid Brings Light to Qunbi District

A new 600KW solar mini-grid in East Hararge'sQunbi district has connected 2,200 households to electricity, marking a milestone in the recent rural electrification push. Ethiopian Electric Utility (EEU) laid seven kilometres of medium-voltage and 10 kilometres of low-voltage lines, installing four transformers to reach communities long cut off from power. Customers cover only meter and installation costs before accessing the service. The project is part of the national strategy to expand energ...