Ethiopia began selling shares to raise funds required to set up its first-ever securities exchange as Prime Minister Abiy Ahmed pushes to modernize eastern Africa’s largest economy.
The sale, which kicked off in the capital, Addis Ababa, on Tuesday aims to mobilize 75% of the required funding, said Michael Habte, a project manager for the planned Ethiopia Securities Exchange, or ESX. The remaining 25% of the shares will be held by Ethiopian Investment Holdings, the nation’s sovereign wealth fund.
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May 16, 2023 at 09:18PM
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Ethiopia Begins Fundraising for First-Ever Securities Exchange - Bloomberg
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