Addis Ababa, January 11, 2025 (FMC) — The launch of Ethiopian Securities Exchange (ESX) has the potential to position the country as a leader in Africa’s financial markets, according CEO of the Nigerian Exchange Group (NGX) Group.
Prime Minister Abiy Ahmed launched the Ethiopian Securities Exchange (ESX yesterday, marking a transformative milestone in the nation’s journey toward economic modernization.
Speaking at the event, Temi Popoola, Group Managing Director and CEO of the Nigerian Exchange Group (NGX) Group, emphasized the significance of this initiative in reshaping Ethiopia’s economic future and strengthening its role in the continent’s financial ecosystem.
He highlighted the importance of close collaboration between government and private sectors in ensuring the success of the capital market.
“The involvement of government in what you are doing is absolutely critical,” he noted.
He drew parallels between Ethiopia’s ambitions and global success stories like India, which has become a model for economic transformation through its capital markets.
Ethiopia’s decision to responsibly open its markets and foster local and continental capital flows is pivotal to achieving its goals, he pointed out.
Africa’s problems should be solved by Africans, first and foremost, he remarked.
“This ability for Ethiopia to open up responsibly and attract both local and regional capital is key. By following this path, Ethiopia can become a financial hub in Africa.”
Mentioning NGX Group’s six-decade experience in capital markets, Popoola shared insights into diversifying financial instruments and expanding access to investment opportunities.
With the right mix of innovation, policy support, and regional collaboration, Ethiopia’s capital market is poised to play a transformative role in the country’s economic development and establish its position as a continental leader in financial markets.