Jun 12 , 2023
A bill for public offerings and trading is underway by the Ethiopian Capital Markets Authority, which will restrict offering shares to the public to its purview and regulation. Brook Taye (PhD), director general of the Authority, also promised the realisation of the nation's capital market next year. It was revealed during a panel discussion on the role of Small & Medium Enterprises (SMEs) in creating inclusive and lively capital markets at the Sheraton Hotel last week, hosted by UNDP. Panellists emphasised the importance of policy consistency, continuity and institutional conduct for capital markets that are attractive to investors. Tiruhan Saleh, the Resident Representative of UNDP Ethiopia, indicated forecasted the transformation of Ethiopia's business landscape by the launching of the capital market. Brook also noted how SMEs could use their receivables to participate in the market reciting on a small enterprise which provides services for Safaricom. The panel was moderated by Mathew Davies, managing director of Renew Capital, a marked increase in financial awareness over the past few years. He recalled that not a single person knew what equity was when he first came to Ethiopia a decade ago. The Ethiopian Securities Exchange recently announced that it was offering a 75pc stake to the private sector.
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