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The Group CEO of Nigerian Exchange Group Plc (NGX Group), Temi Popoola, has underscored the transformative potential of Africa’s capital markets at the launch of the Ethiopian Securities Exchange (ESX).
During the launch event, Popoola highlighted the critical need for stronger regional collaboration, enhanced government-private sector partnerships, and innovative market solutions to unlock Africa’s vast economic potential. According to a statement from NGX, the organization’s strategic investment in ESX signifies its commitment to advancing the continent’s capital market infrastructure.
“The launch of ESX marks a significant milestone for Ethiopia and the African financial ecosystem,” Popoola remarked. “It will play a pivotal role in fostering capital formation and enhancing market liquidity, driving sustainable economic growth across the region.”
NGX Group’s Strategic Vision for ESX
Elaborating on the rationale behind NGX Group’s investment, Popoola emphasized Ethiopia’s promising market potential and the shared goal of fostering economic development through innovation.
“Our partnership goes beyond conventional investment strategies,” he stated. “It focuses on transforming ESX into a cornerstone of Africa’s financial ecosystem, facilitating cross-border investments and establishing benchmarks for market development.”
Popoola also drew parallels with global examples such as India, where robust capital markets have driven substantial economic transformation. He stressed the importance of responsibly opening markets to attract both local and continental capital. “By adopting a strategic approach, Ethiopia can position itself as a leading financial hub in Africa,” he added.
Ethiopian Leadership Celebrates ESX Launch
Prime Minister Abiy Ahmed hailed the launch of ESX as a landmark moment in Ethiopia’s journey toward economic modernization. “Today, we have officially rung the bell to inaugurate the Ethiopian Securities Exchange, our nation’s first stock exchange,” the Prime Minister announced on X. “This is an open invitation to global investors: Ethiopia is a land of immense potential, with a fast-growing economy and a clear vision for shared prosperity,” he added.
Strengthening the NGX-ESX Partnership
Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, expressed confidence in the collaboration with NGX Group, emphasizing the value of its expertise in shaping the growth of ESX. “We are delighted to welcome NGX Group as a strategic partner,” Kassahun said. “Their ongoing support and deep knowledge will be instrumental in steering ESX toward success.”
The launch of ESX, supported by NGX Group’s leadership and expertise, signifies a step forward in Africa’s journey toward integrated and vibrant capital markets. This collaboration underscores the potential for regional partnerships to drive economic transformation, attract investments, and bolster the financial ecosystem across the continent.
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