The Ethiopian Securities Exchange (ESX) has signed a landmark Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE) and iCapital Africa Institute, marking a significant step towards advancing regional financial markets.
This milestone agreement aims to strengthen financial markets in both Ethiopia and the broader East African region. Speaking at the signing ceremony, ESX CEO Tilahun Esmael emphasized the importance of this partnership with NSE and iCapital, describing it as a pivotal moment for the Ethiopian capital market.
“This collaboration will not only accelerate the growth of our market but also position Ethiopia as a key player in the regional financial landscape,” Tilahun stated.
The strategic partnership is designed to foster the growth and development of capital markets between Kenya and Ethiopia through various initiatives. NSE CEO Frank Mwiti expressed his enthusiasm for the collaboration, noting that the partnership would unlock significant opportunities for issuers and investors in both countries. “This agreement enhances the region’s appeal to both domestic and international investors,” Mwiti said.
Gemechu Waktola, CEO of iCapital Africa Institute, also shared his vision, stating, “Our focus at iCapital is to support this partnership with cutting-edge intellectual capital solutions. We are eager to contribute to the growth of capital markets in Ethiopia and the region through innovation and technology transfer.”
The collaboration is expected to support the integration of capital markets in Ethiopia and Kenya by leveraging the expertise of the NSE and iCapital. Key areas of focus include knowledge exchange, capacity building, and promoting cross-border investments.
The MoU outlines several joint initiatives, such as training programs for market participants, the development of a robust regulatory framework, and the exploration of innovative financial products tailored to the growing needs of investors in both countries.
Source: ENA
