By Stanley Onyeka, Lagos
Group CEO of the 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 event, Popoola was said to have emphasized the need for stronger regional collaboration, government-private sector synergy, and innovative market solutions to unlock the continent’s economic potential.
In a statement yesterday, NGX said its Group’s strategic investment in ESX underscores its leadership in advancing Africa’s capital market infrastructure.
Mr Popoola was quoted as saying: “The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape.
“ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”
Expounding on NGX Group’s investment rationale, he highlighted Ethiopia’s immense market potential and the shared vision of fostering economic growth through innovation.
He continued: “Our partnership transcends traditional investment parameters. 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.”
Mr. 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 added.
Our partnership transcends traditional investment parameters. 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.
Prime Minister Abiy Ahmed lauded the launch of ESX as a transformative milestone in the country’s journey toward economic modernization.
He said on X: “Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange.
“This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory toward shared prosperity.”
CEO of the Ethiopian Securities Exchange, Tilahun Kassahun, expressed confidence in the partnership with NGX Group.
He said: “We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” and also emphasized the value of NGX Group’s expertise in shaping ESX’s growth and success.