Ethiopian Securities Exchange (ESX) revealed that it had achieved a major milestone, exceeding its capital-raising target by a significant margin.

Launched in November 2023, the capital-raising campaign attracted enthusiastic participation from domestic and international investors across Addis Ababa, Nairobi, and London. Initially seeking Birr 631 million (USD 11.07 million), ESX secured Birr 1.51 billion (USD 26.6 million), surpassing its target by a remarkable 240%. A total of 48 institutional investors, representing both financial and non-financial sectors, contributed to this achievement.

Established through a groundbreaking public-private partnership with the Ethiopian government, ESX boasts a diverse investor base. Foreign strategic investors such as FSD Africa, the Trade and Development Bank Group (TDB), and the Nigerian Exchange Group (NGX) stand alongside domestic institutions such as private banks and insurance companies, all united in supporting ESX's vision.

Beyond the successful capital raise, ESX has made significant progress with the release of its draft Exchange Rulebook for public feedback and the selection of a technology provider. These steps pave the way for operationalizing trading activities.

Source: ESX