The Ethiopian Finance Ministry, EIH and FSD Africa signed a cooperation agreement in May 2022 to set up the stock exchange.

Ethiopia bourse raises targeted $11m capital

By CHARLES MWANIKI More by this AuthorThe recently established Ethiopian Securities Exchange (ESX) has realised its initial capital raise target of $11.07 million (Ksh1.45 billion) needed to fund the start of operations.
The Ethiopian finance ministry, EIH and FSD Africa signed a cooperation agreement in May 2022 to set up the stock exchange.
The Ethiopian finance ministry, EIH and FSD Africa signed a cooperation agreement in May 2022 to set up the stock exchange.
The initial listing target at launch, according to FSD Africa, would be of 50 companies, mainly from the financial services sector.
The Ethiopian market also lacks intermediaries such as stockbrokers and investment banks, custodians, and fund managers, who are key for the effective operation of an exchange.