ESX Hopes Partnership with FSD Accelerates Market Development


ESX Hopes Partnership with FSD Accelerates Market Development

The Ethiopian Securities Exchange (ESX) has entered into a deal with FSD Africa and FSD Ethiopia to improve the capital market. The partnership was announced in a joint statement released last week. The organisations plan to team up to provide technical expertise, financial resources, and strategic guidance. They have stated that their goals are to support issuers, improve investor education, develop new products, and strengthen the ESX's institutional capacity. According to the statement, ESX plans to allocate financial resources for market development and lead project management, including overseeing implementation and ensuring the quality of market activities. Leaders of FSD Ethiopia and FSD Africa have pledged to fund and provide technical advisory support for companies that would be listed under the Exchange. The federal regulatory agency tasked with issuing licenses for listed companies, the Ethiopian Capital Market Authority (ECMA), established in June 2021, foresees more than 50 companies being listed in the next five years.


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Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


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Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


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City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...