Ethiopia revives stock exchange after 50 years
Ethiopia is launching a stock exchange for the first time in 50 years, as part of efforts to boost its economy and attract investments.
The Ethiopian Securities Exchange will start operations this Friday. According to CEO, Tilahun Kassahun, this is a big step forward for the country.
The first shares to be sold will come from Ethio Telecom, a state-owned telecom giant. The government hopes to raise 30 billion birr ($234 million) through the sale.
Ethiopia hasn’t had a stock market since 1974, when it was shut down after Emperor Haile Selassie was overthrown.
Officials hope to list up to 50 companies in the next five years.
This move comes after tough years for Ethiopia’s economy. In 2023, inflation was over 30%, but it dropped to 23.95% in 2024. Growth is expected to rise to 8% this year, despite ongoing political challenges.
The government sees the stock market as a way to revive the economy and bring new opportunities for investors.
