Overview
Who We Are
The Ethiopian Securities Exchange (ESX) is Ethiopia’s first, and only organized securities exchange. ESX is established as a public private partnership in line with Article 31 of the Capital Market Proclamation (No.1248/2021), licensed by the Ethiopian Capital Market Authority (ECMA). ESX operates the business of a securities exchange, functions as a Self-Regulatory Organization (“SRO”) and serves as the central market organizer providing an integrated product suite covering the equities, fixed income, and money market segments of the capital markets.
As the pioneer securities exchange, ESX aims to play a critical role in the development and growth of the Ethiopian capital markets. ESX’s core objective is to facilitate access to capital and support effective capital allocation in a manner that supports Ethiopia’s economic growth. By developing a well-regulated and efficient capital market ecosystem, ESX will enable mobilization of financial resources for both public and private sector institutions while providing investors a reliable platform to invest in a reliable and efficient environment.
ESX Markets
ESX Equity Market
ESX Equity Market is composed of a main market segment for large companies and a growth market segment for SMEs. The growth market segment offers companies flexible listing requirements in recognition of the company’s growth phase. ESX’s role in developing the equities market will be focused on developing a formal, transparent, and regulated venue for the listing of equity securities and subsequently other structured products.
ESX Fixed Income Market
Facilitates the trading of debt securities with the aim to increase the efficiency, transparency, and liquidity of the fixed income market. The fixed income segment will include a quotation and trading platform for short-term money market instruments such as Government T-Bills, Commercial Papers, and the interbank market including Repurchase Agreements (Repos) as well as long term debt instruments such as Treasury and Corporate Bonds.
Annual Report
Over the past year, we successfully built the foundational pillars of the Exchange; completing a successful capital raise, establishing robust governance structures, attracting talent and building human capital, extensive awareness and capacity building initiatives and putting the technological infrastructure necessary for a world-class trading platform.