https://en.sputniknews.africa/20250110/ethiopia-opens-stock-exchange-after-five-decade-absence-1070118223.html
Ethiopia Opens Stock Exchange After Five-Decade Absence
Ethiopia Opens Stock Exchange After Five-Decade Absence
Sputnik Africa
Since 2018, Prime Minister Abiy Ahmed has pursued economic liberalization, but internal conflicts, including the one in Tigray, have led to sanctions by the US... 10.01.2025, Sputnik Africa
2025-01-10T17:25+0100
2025-01-10T17:25+0100
2025-01-10T17:25+0100
sub-saharan africa
economy
abiy ahmed
ethiopia
tigray
united states (us)
international monetary fund (imf)
world bank
east africa
stock market
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Ethiopian Prime Minister Abiy Ahmed inaugurated the country's first stock exchange in half a century on Friday, symbolically marking the launch with a Wall Street-style bell ringing ceremony.The Ethiopian Securities Exchange (ESX) begins operations on January 10.Prime Minister Abiy Ahmed called the event a historic milestone for the country's economic and financial landscape.The ESX, which was expected to raise 500 million birr ($4 million), raised more than 1.26 billion birr, or almost $10 million, Tilahun Kassahun, managing director of the new exchange, said in August.The country has not had a stock exchange since 1974.To attract investors, Ethiopian authorities recently implemented several economic reforms, including enabling foreign bank subsidiaries (albeit with ownership restrictions), partial privatization of Ethio Telecom, and switching to a floating exchange rate for the birr. This last move, which replaced an unsustainable dollar peg, was crucial in securing a $3.4 billion IMF aid package and a $1.5 billion World Bank financing plan.
https://en.sputniknews.africa/20250108/ethiopia-aims-to-lead-african-tourism-by-upgrading-current-sites--developing-new-attractions-1070082823.html
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economy, abiy ahmed, ethiopia, tigray, united states (us), international monetary fund (imf), world bank, east africa, stock market, foreign exchange, exchange, development, finance, bank, us dollar
economy, abiy ahmed, ethiopia, tigray, united states (us), international monetary fund (imf), world bank, east africa, stock market, foreign exchange, exchange, development, finance, bank, us dollar
Ethiopia Opens Stock Exchange After Five-Decade Absence
Ekaterina Shilova
Writer / Editor
Since 2018, Prime Minister Abiy Ahmed has pursued economic liberalization, but internal conflicts, including the one in Tigray, have led to sanctions by the US and hampered reforms.
Ethiopian Prime Minister
Abiy Ahmed inaugurated the country's first stock exchange in half a century on Friday, symbolically marking the launch with a Wall Street-style bell ringing ceremony.
The Ethiopian Securities Exchange (ESX) begins operations on January 10.
Prime Minister Abiy Ahmed called the event a historic milestone for the country's economic and
financial landscape.
The ESX, which was expected to raise 500 million birr ($4 million), raised more than 1.26 billion birr, or almost $10 million, Tilahun Kassahun, managing director of the new exchange, said in August.
The country has not had a
stock exchange since 1974.
To attract investors,
Ethiopian authorities recently implemented several economic reforms, including enabling foreign bank subsidiaries (albeit with ownership restrictions), partial privatization of Ethio Telecom, and switching to a floating exchange rate for the birr. This last move, which replaced an unsustainable dollar peg, was crucial in securing a $3.4 billion IMF aid package and a $1.5 billion World Bank financing plan.
