In a landmark move for Ethiopia’s economic landscape, Prime Minister Abiy Ahmed on Friday inaugurated the Ethiopian Securities Exchange (ESX), marking the nation’s first stock market launch in over 50 years.
Calling the moment a “historic milestone,” Abiy highlighted the ESX as a crucial step in fostering a robust capital market ecosystem in Ethiopia. The initiative is part of broader government efforts to liberalize the economy and reform the financial sector.
“In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange,” said Abiy during the ceremony in Addis Ababa.
The ESX is designed to offer a platform for trading equities and debt instruments, catering to businesses, government entities, and institutions. The exchange is expected to attract both local and foreign investors while providing a modern and efficient environment for securities trading.
Abiy emphasized that the government has invested considerable time and research to ensure the exchange’s success, adding that it will strengthen the financial system and contribute to building an inclusive economy.
The Ethiopian government described the ESX as a critical driver of economic growth, noting its role in creating a sustainable institution that serves the needs of Ethiopian and regional issuers and investors.
As part of its broader economic reforms, Ethiopia recently opened its retail sector to foreign investors, reversing a long-standing policy that reserved the industry for local entrepreneurs.
With a population of approximately 126.5 million, Ethiopia is Africa’s second most populous country after Nigeria and one of the continent’s fastest-growing economies, according to the World Bank.
The ESX’s launch marks the first stock exchange in Ethiopia since the fall of Emperor Haile Selassie in 1974, reflecting the nation’s ambition to modernize its financial infrastructure and position itself as a key player in the region’s economic development.
Prime Minister Abiy invited global investors to explore opportunities in Ethiopia, describing the nation as a fast-growing economy with vast potential.
The stock exchange is poised to reshape Ethiopia’s financial future while symbolizing a significant step forward in the country’s journey toward economic liberalization.
