Ethiopia has been implementing extensive economic reforms over the past years. As part of these reforms, the long awaited Ethiopian Securities Exchange (ESX) has been officially launched with an ambition to accelerate economic growth. As the pioneer securities exchange, ESX aims to play a critical role in the capital market advancement with core objective to facilitate capital allocation for the country’s development.
Prime Minister Abiy Ahmed (PhD) has officially launched ESX on 10 January 2025,setting a significant milestone in the country’s economic development trajectory. Following the historic launch of ESX, the government of the United Kingdom has congratulated Ethiopia on the launch of the country’s new stock exchange. In light of this development, the UK’s Minister for Africa, Baron Collins of Highbury, has sent his congratulatory message to the Ethiopian Ministry of Finance on this historic moment.
“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,”Prime Minister Abiy said.
In an exclusive interview with The Ethiopian Herald, Rari Cleaner Company Owner, Diaspora Mohammed nur Kaso said that the nation has been experiencing notable economic advancement over the past few years, and the current reform initiatives being enacted by the government are playing a vital role in accelerating economic growth. With many countries already having established stock exchanges, the introduction of the Ethiopian Securities Exchange will greatly benefit the economy and create a favorable environment for both investors and the diaspora to invest in the country, thereby aiding the nation-building efforts.
He also mentioned that the capital market is essential to the economy, and Ethiopia’s recent initiative to implement a capital market will enhance investment and increase the country’s competitiveness. Most importantly, this initiative is in line with the government’s commitment to an open economy and to enhancing investment, he added.
“We, the Ethiopian Diaspora, have been investing overseas, and the recent reforms are enabling us to invest in our homeland. The new stock exchange allows us to access what we have experienced abroad, marking a significant milestone. I am investing in a medical and laboratory and plan to apply my previous experience in Ethiopia.” The reform process, combined with the nation’s considerable investment potential, will support my investment plans. Similarly, the recent establishment of the capital market is vital for fostering investment.He urged fellow Diasporas to come and take advantage of Ethiopia’s vast investment opportunities.
BY HAILE DEMEKE
THE ETHIOPIAN HERALD TUESDAY 14 JANUARY 2025
