ADDIS ABABA – The Ethiopian Securities Exchange (ESX) has successfully raised 1.51 billion Birr in capital, far exceeding its initial target, signaling strong investor confidence in Ethiopia’s financial markets.

According to Ethiopian News Agency, ESX Chief Executive Officer Tilahun Esmael announced this morning that the capital raised was 240 percent above the anticipated target, with participation from 48 investors spanning a range of sectors both domestically and internationally. Launched in November 2023, the ESX undertook comprehensive capital-raising efforts, including road-shows in Addis Ababa, Nairobi, and London.

The diverse group of investors includes significant foreign entities such as FSD Africa, the Trade and Development Bank Group (TDB), and the Nigerian Exchange Group (NGX), in addition to domestic financial institutions and public sector shareholders.

Tilahun expressed his satisfaction with the fundraising outcome and outlined further milestones for the ESX, including public consultations on its Exchange Rulebook and the selection of a technology provider. These developments are crucial steps toward operationalizing trading activities on Ethiopia’s first securities exchange, which aims to catalyze economic growth, promote financial inclusion, and enhance corporate governance standards in the country.