Mr. Temi Popoola will join ESX’s board as NGX Group’s nominee, demonstrating NGX Group’s commitment to regional integration and collaboration within African capital markets.
The Nigerian Exchange Group Plc (NGX Group), a prominent integrated market infrastructure group in Africa, has announced a substantial investment in the Ethiopian Securities Exchange (ESX).
NGX Group, along with FSD Africa and the Trade and Development Bank Group (TDB), has injected capital into ESX, marking its entry into East Africa and emphasizing its commitment to fostering growth and innovation in African capital markets.
The investment reflects NGX Group’s confidence in Ethiopia’s burgeoning economy and capital market, aiming to support the development of a robust financial ecosystem in the country.
NGX Group plans to contribute to regulatory frameworks and enhance ESX operations through ongoing technical assistance. Alhaji Umaru Kwairanga, Chairman of NGX Group, and Temi Popoola, Group Managing Director/CEO, expressed enthusiasm for the partnership and its potential impact on Ethiopia’s economic landscape.
Tilahun Esmael Kassahun, CEO of ESX, welcomed NGX Group’s investment, highlighting the exceeded capital raise target and investors’ confidence in Ethiopia’s economic prospects.
