Ethiopian Securities Exchange inks technology agreements with Infotech Private Limited

Addis Ababa, August 13, 2024 (FBC) – The Ethiopian Securities Exchange (ESX) announced that it has signed two pivotal technology agreements with Infotech Private Limited, a leading global provider of capital markets technology solutions.

These agreements mark a significant step forward in the development of Ethiopia’s first ever securities exchange, ESX stated today in a press release sent to FBC.

The agreements cover the design, supply, and installation of an Electronic Trading Platform and a Broker Back Office and Order Management System.

It was pointed out that these systems are integral to the establishment of a modern, efficient, and transparent capital market in Ethiopia, facilitating the trading of securities and enhancing the overall market infrastructure.

Meanwhile, the Electronic Trading Platform will provide a state-of-the-art trading environment that supports real-time transactions. This platform is designed to ensure market transparency, improve liquidity, and offer investors, both local and international, a seamless and secure trading experience. With this platform, ESX disclosed that it aims to become a catalyst for economic growth by enabling companies to raise capital more efficiently and providing new investment opportunities for the Ethiopian public.

On the other hand, the Broker Back Office and order Management System is designed to automate and streamline the operations of brokerage firms.

During the agreement signing ceremony, Tilahun Esmael Kassahun, CEO of ESX, commented: “This partnership with Infotech Private Limited represents a significant milestone in the realization of our vision to create a world-class securities exchange in Ethiopia.”

He added that the technology solutions provided by Infotech will not only modernize ESX’s trading operations but also contribute to the broader development of the financial sector in Ethiopia.

On his part, Mr. Muhammad Haris Naseer, COO of Infotech Private Limited, said; “We are honoured to contribute our expertise to this historic project in Ethiopia.”

Infotech’s commitment to delivering top-tier technology solutions aligns perfectly with ESX’s vision of a robust and vibrant capital market, the COO noted. “Our teams are very excited on this partnership, and we hope to innovate together with ESX and bring more advanced products to market,” he stated.