ECMA / ኢካገባ

ECMA Engages with The Currency Exchange Fund (TCX)

The Ethiopian Capital Market Authority (ECMA), led by its Director General, Ms. Hana Tehelku, held a constructive discussion with The Currency Exchange Fund (TCX), represented by Mr. Boukrami (Deputy CEO) and Mr. Tandia (Vice President, Structuring & Sales).

TCX, established in 2007 by a consortium of Development Finance Institutions (DFIs), supports sustainable development in emerging and frontier markets through currency risk hedging solutions.

The discussion highlighted the potential of currency hedging to facilitate the mobilization of foreign capital for Ethiopian issuers, an important step in strengthening the country’s capital market ecosystem and attracting global investment.

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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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