Ethiopia’s new ESX, or the stock market, is set to become a reality in 2024-25. In the last five years, there have been continuous efforts by the Ethiopian finance ministry in association with African market specialists to pave the way for its stock market.
Capital markets development is a key component of the Government of Ethiopia’s
(GoE) Home-Grown Economic Reform Program and the 10-Year Development Plan
(2021- 2031). In line with this commitment, the Capital Markets Proclamation (No.
1248/2021) was adopted by the House of Peoples’ Representatives in June 2021, which
included the establishment of the Ethiopian Capital Market Authority (ECMA).
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