In a statement issued by Prime Minister Abiy Ahmed this week, he said that the Ethiopian Securities Exchange, which is being established, will start operating “within two months at the most”. The capital market will start by offering 10 percent of Ethio-Telecom’s shares for sale. The capital raising process will soon come to an end.
Ambesa Insurance Company and United Insurance have invested 10 million birr & 30 million in the Ethiopian Securities Exchange respectively this week. The Ethiopian Securities Exchange, which is in the process of raising capital, announced that it has received another investment from Ambesa and United Insurance Companies. It has totally raised a capital of 60 million birr from insurance companies.
It is also known that Amara Bank has made the largest investment of a 10% stake in the Ethiopian Securities Exchange (ESX). Previously, Awash Bank made the largest investment by investing 70 million, and Amara Bank has invested 90.6 million and ranks first among private banks. Private banks have invested a total of 358.2 million birr. ESX has announced on its social media that it will soon complete its fundraising and provide general information to the community.
Ethiopian Broadcasting Corporation has officially handed over its building to the Ethiopian Capital Market Authority, Ethiopian Investment Holdings & Ethiopian Securities Exchange (ESX). The former EBC building will serve as the future exchange trading floor and house the head offices of EIH & ECMA. Renovations to tailor the building to the needs while preserving its historic structure will begin shortly as the authority stated.
Your Essential Monthly Guide to Capital Markets and Business Trends!
Dive into the latest finance news and insightful market analysis as we gear up for the exchange launch. Our monthly business magazine has been released this week discussing various things from news to educational content and other countries’ experience with developing sound capital markets. Read more
