Saturday, April 20, 2024
NewsESX raises 1.5bln from domestic, foreign investors

ESX raises 1.5bln from domestic, foreign investors

The Ethiopian Securities Exchange (ESX) has closed its share offering after raising 1.5 billion birr in subscribed capital from dozens of investors, including three foreign firms.

The Trade and Development Bank Group (TDB), the financial arm of the 21-member Common Market for Eastern and Southern Africa (COMESA), has acquired an unspecified stake in the maiden Ethiopian capital market.

The African Development Bank (AfDB) and the Arab Bank for Economic Development in Africa (BADEA) are among TDB’s largest shareholders.

FSD Africa, which has been heavily involved in the establishment of ESX, and the Nigerian Exchange Group (NGX) are the other two foreign investors.

Domestic ESX shareholders include 16 commercial banks, 12 insurers, and 17 private firms, alongside five state-owned enterprises under Ethiopian Investment Holdings (EIH).

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