Ethiopian National Bank’s Senior Macroeconomic Advisor Melesse Minale stated that foreign companies which were aware of Ethiopia’s decision to launch a securities exchange under the Capital Market Proclamation were expressing interest to establish their presence in the market.

Melesse Minale disclosed that three well known global companies were desirous to participate in Ethiopian Securities Exchange and added that technical discussions were underway. 

Financial Deepening Africa (FSD Africa) signed an agreement to become a shareholder in the securities exchange, he added.The advisor also pointed out that in addition to FSD Africa, International Finance Corporation (IFC) had shown interest to participate in the Ethiopian Securities Exchange. 

Investment banks, securities dealer, and others were waiting until Ethiopian Capital Market Authority started issuing license, it was reported. Ethiopia enacted the Capital Market Proclamation last year.

Source: Ethiopian News Agency and Fana BC

Image Source: Ethiopian News Agency