NGX Invests in Ethiopian Exchange To Boost Africa’s Finance

In a landmark move to foster economic development across Africa, the Nigerian Exchange Group Plc (NGX Group) has invested in the Ethiopian Securities Exchange (ESX), Ethiopia’s first stock exchange.

At the event in Addis Ababa, Mr. Temi Popoola, the Group Chief Executive Officer of NGX Group, described the Exchange as a critical tool for capital formation, liquidity, and sustainable economic growth.

He emphasised that the investment in ESX represents more than a financial commitment; it is a step toward enabling cross-border investments and setting new benchmarks for market development.

“Our investment transcends traditional parameters; it is about driving innovation, promoting regional collaboration, and unlocking Africa’s economic potential,” Mr. Popoola said.

Ethiopia’s Prime Minister, Mr. Abiy Ahmed, celebrated the launch as a critical moment in the nation’s economic modernisation. “Today, we officially launched the Ethiopian Securities Exchange, inviting global investors to explore the immense potential of Ethiopia’s fast-growing economy,” he announced via X (formerly Twitter).

Mr. Tilahun Kassahun, CEO of the Ethiopian Securities Exchange, commended NGX Group’s strategic support, describing its partnership as vital to the success of the new exchange.

“With NGX Group’s expertise, we are confident in achieving our vision for ESX as a transformative financial hub in Africa,” Mr. Kassahun noted.

Drawing from decades of NGX Group experience, Mr. Popoola urged Ethiopia to embrace innovative policies and collaborative frameworks, likening the country’s potential to India’s successful capital market transformation.