The Group CEO of Nigerian Exchange Group Plc (NGX Group), Temi Popoola, has reiterated the transformative potential of Africa’s capital markets at the launch of the Ethiopian Securities Exchange (ESX).
Speaking at the launch in Addis Ababa, Mr. Popoola emphasized the need for stronger regional collaboration, government-private sector synergy, and innovative market solutions to unlock the continent’s economic potential.
He noted that NGX Group’s strategic investment in ESX underscores its leadership in advancing Africa’s capital market infrastructure.
“The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape,” Popoola said, adding that “ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”
Expounding on NGX Group’s investment rationale, Popoola highlighted Ethiopia’s immense market potential and the shared vision of fostering economic growth through innovation.
“Our partnership transcends traditional investment parameters,” he explained. “It is about ensuring that ESX evolves into a key player in Africa’s financial ecosystem, enabling cross-border investments and setting benchmarks for market development.”
Popoola also drew parallels with global success stories like India, which has leveraged its capital markets to achieve significant economic transformation.
He emphasized the importance of responsible market opening to attract local and continental capital. “By following this path, Ethiopia can become a financial hub in Africa,” he said.
Speaking at the launch, the Prime Minister of Ethiopia, Abiy Ahmed, lauded the launch of the ESX as a transformative milestone in Ethiopia’s journey toward economic modernization.
“Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange,” the Prime Minister announced on X. “This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory toward shared prosperity,” he said.
In his remarks, Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, expressed confidence in the partnership with NGX Group.
“We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” he said. Kassahun also emphasized the value of NGX Group’s expertise in shaping ESX’s growth and success.
Drawing from NGX Group’s six decades of experience, Popoola shared insights on diversifying financial instruments and expanding access to investment opportunities.
“With the right mix of innovation, policy support, and regional collaboration, Ethiopia’s capital market can play a transformative role in driving economic development and establish itself as a leader in Africa’s financial ecosystem,” he concluded.
The statement by the NGX noted that with the ESX poised to redefine Ethiopia’s financial landscape, the involvement of the NGX Group highlights the critical role of partnerships and shared expertise in advancing Africa’s economic narrative.
GIK/APA