Engaging in dialogue with residents
ADDIS ABABA- Ethiopian Securities Exchange (ESX) signed Memorandum of Understanding (MoU) with Nairobi Securities Exchange (NSE) and iCapital Africa Institute to enhance the growth and development of capital markets.
Speaking at the occasion ESX Chief Executive Officer (CEO) Tilahun Esmael (PhD) said that this strategic collaboration seeks to enhance the growth and development of capital markets between Kenya and Ethiopia through various strategic initiatives. The collaboration will support the integration of capital markets in the two countries, leverage the expertise and experience of the NSE and Capital. The partnership will place special focus on key areas such as knowledge exchange, capacity building, and the promotion of cross-border investments.
He stated that the MoU landmarked a significant step towards enhancing financial markets in Ethiopia and the broader East African region. Outlining several initiatives, including joint training programs for market participants apart from establishing a strong regulatory framework and exploring innovative financial products.
The MoU is also crucial to meet the growing needs of investors in both countries, he noted.
He emphasized the importance of this collaboration, stating, this partnership with NSE and ICapital Africa Institute is a pivotal moment for the Ethiopian capital market. It will not only accelerate the two countries’ market’s growth but also position Ethiopia as a key player in the regional financial landscape.
Commending the partnership CEO of NSX Frank Mwiti expressed enthusiasm for the collaboration, highlighting the potential for increased regional integration. The NSE is delighted to partner with ESX and iCapital Africa Institute to further the growth of capital markets in Kenya and Ethiopia. This partnership will unlock significant opportunities for issuers and investors in both countries, enhancing the appeal of the region to both domestic and international investors.
Capital Africa Institute CEO Gemechu Waktola (PhD) for his part stated that the institute support this partnership by delivering cutting-edge intellectual capital solutions. We are eager to contribute to the growth of capital markets in Ethiopia and the region through innovation and technology transfer. The MoU signifies a shared commitment to the development of strong, transparent, and accessible capital markets, ultimately contributing to economic growth and financial inclusion in both Ethiopia and Kenya.
The ESX, NSE, and iCapital Africa Institute will work closely together in the coming months to implement the initiatives outlined in the MoU, to achieve tangible outcomes that will benefit both markets, it was learnt.
BY HAILE DEMEKE
THE ETHIOPIAN HERALD SATURDAY 19 OCTOBER 2024
