Addis Ababa, Ethiopia – (African Boulevard News) – In a bid to attract investor support and bolster Ethiopia’s economic growth, Prime Minister Abiy Ahmed has assembled a “dream team” of professionals from the Ethiopian diaspora to prepare for the launch of the country’s first-ever stock exchange.
The Ethiopian Securities Exchange, which is seen by Prime Minister Abiy as a key reform measure, aims to attract both domestic and foreign investors, spurring economic development and job creation in the country. The prime minister believes that opening up Ethiopia’s capital market will provide new opportunities for businesses and individuals alike.
To ensure the success of this ambitious venture, Prime Minister Abiy has tapped into the expertise and experience of professionals from the Ethiopian diaspora. These individuals bring with them a wealth of knowledge and international networks, which will be instrumental in establishing a transparent and efficient stock exchange.
The establishment of the Ethiopian Securities Exchange is part of Prime Minister Abiy’s broader economic reform agenda, which includes liberalizing key sectors and attracting private investment. The prime minister envisions a thriving capital market that will contribute to Ethiopia’s overall economic growth and reduce its reliance on foreign aid.
Ethiopia has long been regarded as one of Africa’s fastest-growing economies, with a population of over 100 million people and a Gross Domestic Product (GDP) growth rate of nearly 10% in recent years. By launching a stock exchange, the country aims to tap into its immense potential and provide investors with new opportunities in a dynamic and rapidly expanding market.
Industry experts and stakeholders have expressed optimism about Ethiopia’s stock exchange initiative. Dr. Alemayehu Geda, a renowned economist and professor at Addis Ababa University, believes that the launch of the exchange will attract significant foreign direct investment and promote financial inclusivity.
“The Ethiopian Securities Exchange will serve as a platform for both local and foreign investors to participate in the growth of Ethiopia’s economy,” Dr. Geda said. “It will provide an opportunity for small and medium-sized enterprises to access capital and expand their operations, leading to job creation and economic development.”
While the exact timeline for the launch of the Ethiopian Securities Exchange is yet to be determined, the preparations are well underway. Prime Minister Abiy’s dream team is working diligently to ensure that the stock exchange is established on a strong foundation, with the necessary regulatory framework and infrastructure in place.
With the upcoming launch of the Ethiopian Securities Exchange, Ethiopia is poised to make significant strides towards becoming a regional financial hub and attracting more foreign investment. The country’s commitment to economic reform and the Prime Minister’s ambitious vision of a thriving capital market have generated excitement and anticipation among investors and stakeholders alike.
As Ethiopia prepares to enter a new era of economic growth and development, the launch of the stock exchange is a milestone that holds great promise for the country and its people.