The Ethiopian Capital Market Authority (ECMA) has announced the issuance of a groundbreaking directive that will enable the licensing of the first securities exchange in Ethiopia. The authority has prepared and registered the “Directive on Licensing, Operation, and Supervision of Securities Exchanges, Derivatives Exchanges, and the Over-The-Counter Market No. 1009/2024.” This directive has been officially
The Ethiopian Capital Market Authority (ECMA) has announced the issuance of its first individual securities investment advisor license under the Capital Market Service Providers Licensing and Supervision Directive No. 980/2024. The license has been granted to Mr. Habtamu Eshetu Gebre, a distinguished professional with a Master of Business Administration from Addis Ababa University and 25
On Monday, South Africa’s Vodacom Group (VODJ.J) announced a 10.8% decline in full-year earnings, attributing it to several factors including startup losses in Ethiopia, increased finance and energy costs, and inflationary pressures. The company, mainly owned by Britain’s Vodafone (VOD.L), partnered in launching Safaricom Ethiopia in 2022, anticipating growth opportunities in the populous nation. Vodacom
According to Shega, Safaricom has indicated its willingness to potentially list Safaricom Ethiopia on the Ethiopian Securities Exchange in the future. Peter Ndegwa, the CEO of Safaricom, revealed this during a media briefing held today, May 9, 2024. Ndegwa emphasized Safaricom Ethiopia’s commitment to establishing a business model that is in line with Ethiopian interests.
Mr. Temi Popoola will join ESX’s board as NGX Group’s nominee, demonstrating NGX Group’s commitment to regional integration and collaboration within African capital markets. The Nigerian Exchange Group Plc (NGX Group), a prominent integrated market infrastructure group in Africa, has announced a substantial investment in the Ethiopian Securities Exchange (ESX). NGX Group, along with FSD
The Ethiopian Securities Exchange (ESX) has declared the successful conclusion of its capital-raising initiative, exceeding its initial fundraising target by over two-fold. The effort, initiated in November 2023 and supported by extensive management efforts and roadshows in Addis Ababa, Nairobi, and London, garnered significant interest from both domestic and foreign investors. The Exchange secured ETB
The Ethiopian Capital Market Authority (ECMA) has announced the registration of its Fee Directive by the Ministry of Justice under the title ‘The Capital Market Authority’s Fee Directive Number 996/2024’. Aligned with its responsibilities as stipulated in the Capital Market Proclamation No.1248/2021, this directive outlines the fee structure for the services provided by the Authority.
Cooperative Bank of Oromia (Coop) agreed with the Ethiopian Securities Exchange (ESX) to acquire shares valued at ETB 60 million. The signing ceremony, held at Coop’s Head Office, Mr. Liko Tolesa, VP of Human Capital and Project Management, underlined ESX’s pivotal role in securing additional financing and fostering investment opportunities. He emphasized that the decision
In the statement released today by Ethiopian Capital Market Authority, Deloitte has become the first licensed securities investment advisor in Ethiopia. This significant achievement places Deloitte at the forefront of Ethiopia’s rapidly evolving capital market landscape. As part of this milestone, Deloitte has committed to collaborating closely with ECMA to utilize its extensive global and
In a pioneering move for the Ethiopian insurance sector, Zemen Insurance has secured a significant stake in the upcoming Ethiopian Securities Exchange (ESX). The agreement, inked at the Zemen Insurance headquarters, marks a pivotal moment as the insurance industry ventures into the realm of stock exchange investment. With an investment of 20 million birr, Zemen
In a recent development, an Ethiopian delegation led by Dr. Brook T., Director General of the Ethiopian Capital Markets Authority, and Dr. Tilahun E. Kassahun, CEO of the Ethiopian Securities Exchange, embarked on a visit to Johannesburg. Their primary agenda: to explore plans for the establishment of a domestic stock exchange in Ethiopia. During their
Embark on a journey through Malaysia’s capital market evolution, a testament to resilience, innovation, and strategic vision. From its colonial roots to its contemporary prowess, Malaysia’s capital market narrative unveils a captivating tale of growth and adaptation, enriching the nation’s economic landscape. Malaysia’s capital market narrative begins amidst the colonial era, where rudimentary financial infrastructure
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