Breaking News: Ethiopian Securities Exchange (ESX) Officially Launched
The Ethiopian Securities Exchange (ESX) has officially
opened for business on January 10, 2025, marking a historic milestone in
the country's financial history. The launch ceremony, held at the Science
Museum in Addis Abeba, was officiated by Prime Minister Abiy Ahmed (PhD),
signaling Ethiopia’s readiness to embrace a modern capital market.
Headquartered on the 18th floor of the Nile Building along
Abebe Aregay (Ras) Street, the ESX is strategically positioned near the
capital's financial district. Following its regulatory approval by the
Ethiopian Capital Market Authority (ECMA) last month, the exchange now
facilitates traditional securities trading and over-the-counter transactions.
The platform will list companies meeting stringent public
listing standards, including valuations exceeding 500 million Birr after
initial public offerings or other capital-raising efforts. Additionally, the
ESX offers a growth-oriented segment for high-potential firms with market
values of at least 50 million Birr.
According to ESX CEO Tilahun Kassahun (PhD), the exchange
aims to list 90 companies and attract four million investors over the coming
years. Investor interest has already surged, with 1.51 billion Birr in
subscribed capital and 800 million Birr in paid-up capital, far surpassing
initial thresholds. Ethio telecom is expected to lead the way in secondary
market trading after floating its shares through an IPO in the primary market.
The ESX launch also included a vibrant Expo and a Market
Opening Ceremony, emphasizing its bold and inclusive vision for the future of
investment in Ethiopia. Officials highlighted the transformative potential of
the ESX to empower businesses, attract investors, and drive economic growth.
"Today, we’ve witnessed dreams take shape, ideas spark
innovation, and collaboration build the foundation of a brighter financial
future for Ethiopia," the ESX team remarked during the event.
This historic event was reported by Addis Fortune and ESX’s
official LinkedIn post. Stay tuned for more updates as Ethiopia’s first
securities exchange takes its first steps toward revolutionizing the capital
market.
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