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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