Ethiopia launches first stock exchange in 50 years

Addis Ababa:Ethiopian Prime Minister Abiy Ahmed on Friday officially launched the country s first stock exchange in more than 50 years, describing it...

Addis Ababa: Ethiopian Prime Minister Abiy Ahmed on Friday officially launched the country's first stock exchange in more than 50 years, describing it as a "historic milestone" for the nation's economy.

The Ethiopian Securities Exchange (ESX) is seen as a significant step toward establishing "a vibrant capital market ecosystem" in the East African nation, aligning with the Ethiopian government's recent efforts to liberalize the country's economy and financial sector.

"In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange," Abiy said after ringing the bell to mark the opening of the stock exchange.

The launch of the ESX would enhance the country's financial system and contribute to the development of an inclusive economy, he said, adding that the government has invested significant time and conducted extensive research to ensure the exchange's effectiveness.