Ethiopia Launches First Securities Trading on Ethiopian Securities Exchange

Ethiopia has officially launched trading on its newly established Ethiopian Securities Exchange (ESX), marking a significant milestone in the country's financial sector development. The first equities to be traded are shares from Wegagen Bank and Gadaa Bank, alongside government treasury bills, supported by a modern infrastructure including the Central Securities Depository and integrated settlement systems. This launch is part of broader economic reforms aimed at liberalizing the economy and enhancing market-based financing, transparency, and investor participation. The ESX, established through a public-private partnership, is expected to accelerate economic growth by mobilizing capital more effectively and promoting price stability. Officials, including Finance Minister Ahmed Shide and National Bank Governor Mamo Mihretu, emphasized the exchange's role in supporting Ethiopia's financial prosperity and economic recovery following recent conflicts and reforms. With expectations that over 90 companies will list in the coming decade, the ESX represents a foundational step in Ethiopia's efforts to build a modern capital market after decades without a functioning stock exchange.