UNDP Panel Underscore Capital Markets' Potential to Attract Investors

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.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...