Addis Ababa, Ethiopia (16 May 2023)
Ethiopian Investment Holdings (EIH) has taken a major step toward further opening the economy to private investors by revealing its intention to sell a 75% stake in the Ethiopian Securities Exchange (ESX). The government will retain the remaining 25%.
The news was aired during a meeting held at the Sheraton Addis Hotel to mark the beginning of the Capital Roadshow, which aims to generate interest and attract stakeholders from the financial sector and entice both domestic and international private investors. EIH officials confirmed that all necessary preparations, including a completed feasibility study and prepared documents, have been finalized for the sale of shares.
According to Biruk Taye, the Director General of the Ethiopian Capital Market Authority, the roadshow is a crucial step towards the full operationalization of ESX, scheduled to take place from January of the next Ethiopian fiscal year. At the start of the upcoming Ethiopian fiscal year, the regulatory authority will commence the issuance of licenses to various participants of the ESX, such as brokers, dealers, and advisors. Source: FBC, The Reporter Ethiopia
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