Ethiopia launched the Ethiopian Securities Exchange (ESX) on Friday 10 January, marking a major step in Prime Minister Abiy Ahmed's efforts to open the economy to private investment. Wegagen Bank is the first company listed, with expectations of 90 companies joining over the next decade, including state-owned Ethio Telecom. Ethiopia previously had a securities exchange in the 1960s and 70s, which was abolished after the 1974 revolution. While the launch is seen as a milestone for local investors, concerns remain about foreign interest due to financial reporting standards and ongoing conflicts. Despite challenges, the move is hailed as a key moment in Ethiopia's economic evolution.
- L – R shows Temi Popoola, Group Managing Director/Chief Executive Officer, Nigerian Exchange Group (NGX Group); Tilahun Kassahun, Chief Executive Officer, Ethiopian Securities Exchange (ESX) and Pierre Celestin Rwabukumba, President, Africa Securities Exchanges Association (ASEA) during the opening of Ethiopian Securities Exchange in Addis Ababa yesterday
