NAIROBI: The CEO of the Nairobi Securities Exchange (NSE), Frank Mwiti, has praised Ethiopia for its ongoing macroeconomic reforms, which he describes as commendable. As part of these reforms, Ethiopia has been focusing on policy changes and sector liberalization aimed at enhancing its market infrastructure and attracting global investment.
According to Ethiopian News Agency, Mwiti highlighted the importance of a functional capital market, with the securities exchange being at its core, as essential for market development. He stated that the Ethiopian government and relevant regulators are on the right track to establish and operationalize a securities exchange, an initiative that he believes will enable the Ethiopian economy to access capital and foster growth.
Mwiti emphasized that a well-regulated securities exchange is crucial for attracting global investors, as it creates a reliable platform for investment. He added that such an exchange would facilitate the participation of Ethiopians in their country
‘s economic development by allowing them to invest in local businesses in an accessible and affordable manner.
The CEO also noted that the creation of security exchanges is integral to Ethiopia’s macroeconomic reform efforts. He highlighted that these reforms are modernizing the capital market ecosystem, sending positive signals to both regional and global investors. The Ethiopian Securities Exchange (ESX), as the pioneering entity in this field, is poised to play a significant role in the country’s economic development and growth.
In recent years, Ethiopia has embarked on significant economic reforms, including the liberalization of the telecom, financial, and trade sectors, to attract foreign investment. These efforts are part of a broader strategy to open up the economy and integrate it into the global market.