Addis Ababa, October 18, 2024 (FBC) – The Ethiopian Securities Exchange (ESX) has signed a landmark Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE) and iCapital Africa Institute today to expedite regional financial markets.
This milestone Memorandum of Understanding intends to enhance financial markets in Ethiopia and the broader East African region.
Speaking on the signing ceremony, ESX CEO Tilahun Esmael said this partnership with NSE and iCapital institute is a pivotal movement for the Ethiopian capital market.
“It will not only accelerate our market’s growth but also position Ethiopia as a key player in the regional financial landscape,” Tilahun underscored.
Essentially, this strategic collaboration seeks to enhance the growth and development of capital markets between Kenya and Ethiopia through various initiatives, it was indicated.
Nairobi Securities Exchange CEO Frank Mwiti said he was delighted to partner with the Ethiopian Securities Exchange and iCapital 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,” he pointed out.
On his part, CEO of iCapital Institute Gemechu Waktola said for his part that our focus at iCapital isvto is to 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 CEO affirmed.
The collaboration is also believed to support particularly the integration of capital markets in the two countries, leveraging the expertise and experience of the NSE and iCapital.
Furthermore, the partnership will place special focus on key areas such as knowledge exchange, capacity building and the promotion of cross border investments, according to a report by local news agency ENA.
The MoU outlines several initiatives including joint training programs for market participants, the establishment of a strong regulatory framework, and the exploration of innovative financial products to meet the growing needs of investors in Ethiopia and Kenya.