Ethiopia launches Ethiopian Security Exchange (ESX)

As part of its market liberalization, Ethiopia on Friday launched Ethiopian Security Exchange (ESX) at the presence of Prime Minister Abiy Ahmed.

It is stated that the ESX is now open for business, ready to connect opportunities with investors, empower businesses, and fuel economic growth. “In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange – the first stock exchange for our country. Invest in Ethiopia — a fast-growing economy with immense potential and a dynamic trajectory toward prosperity.” twitted Prime Minister Abiy.

Meanwhile, it is not yet clear how many and which companies are registered to trade their shares on ESX. Though it is stated that only Trading Members of ESX (brokers, dealers, market makers, dealing member banks) licensed or authorized by the Ethiopian Capital Market Authority, which has not yet revealed the names of the listed companies.

It is indicated that public companies (listed/unlisted) can trade after registering their securities with ECMA and meeting compliance requirements.