Ethiopia launched the Ethiopian Stock Exchange (ESX), the first in 50 years. Its launch is part of the economic liberalization strategy that Prime Minister Abiy Ahmed Ali has been implementing since he took office in 2018.
Author:
https://rb.ru/author/sadulaev/
Subscribe to RB.RU on Telegram
“In a historic milestone for our economic and financial sector, we officially inaugurate the launch of the Ethiopian Stock Exchange,” the head of the Ethiopian Government wrote this Friday.
As Reuters clarifies, at first only one company was listed on the stock exchange: the local Wegagen Bank. State-owned telecommunications company Ethio Telecom, which is preparing for an initial public offering, will also list its shares on the ESX.
According to ESX CEO Tilahun Kassahun, 90 companies will join the exchange over the next 10 years.
The stock exchange last operated in Ethiopia in the 1960s and 1970s, but was closed in 1974 following the overthrow of Emperor Haile Selassie.
Author:
Akhmed Sadulayev
Source: RB

I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.