In a landmark move to bolster African capital markets, the Ethiopian Securities Exchange (ESX) and Bourse de Casablanca have signed a strategic cooperation agreement, marking a pivotal step in fostering regional financial collaboration.
The agreement was inked shortly after the conclusion of the Africa Financial Summit, held in Casablanca, and underscores a shared commitment to leverage capital markets as engines for economic growth.
The Ethiopian Securities Exchange, established in October 2023 as part of a groundbreaking public-private partnership, seeks to introduce transformative stock market opportunities in Ethiopia. On the other hand, Bourse de Casablanca, with a rich history dating back to 1929, holds a dominant position in African capital markets, boasting a market capitalization of USD 76 billion—accounting for 55% of Morocco’s GDP.
The partnership is built on several strategic pillars:
- Technical Expertise: Bourse de Casablanca will share its technical and operational expertise to help the ESX enhance its technological framework, operational capacity, and risk management systems.
- Market Development: Morocco’s financial reform journey, including its derivatives market launch and the New Development Model roadmap, will serve as a blueprint for Ethiopia’s stock market evolution.
- Business Ties: The collaboration aims to strengthen trade and investment connections between Ethiopian and Moroccan business communities.
- Innovation Opportunities: Both exchanges will explore joint products, dual listings, and shared financial education initiatives to enhance market engagement.
Beyond bilateral cooperation, the two exchanges are committed to championing Africa’s interests on global financial platforms. Their goal is to advocate for tailored solutions that accelerate the development and integration of African capital markets.
A notable focus is on promoting Environmental, Social, and Governance (ESG) practices. By emphasizing responsible investment, the partnership aims to support sustainable economic growth in their respective countries and across the continent.
This collaboration symbolizes the convergence of vision between two of Africa’s largest economies. The Ethiopian Securities Exchange, poised to play a transformative role in Ethiopia’s economic dynamism, will benefit from the wealth of experience held by Bourse de Casablanca, a global benchmark of market maturity.
Together, the two exchanges aim to expand access to stock market financing, strengthen liquidity, and drive financial integration, aligning with broader goals of sustainable and inclusive economic development across Africa.
Read About Casablanca Stock Exchange: Exploring the Casablanca Stock Exchange | StockMarket.et
