The Ethiopian Securities Exchange (ESX) is proud to announce the signing of a landmark Memorandum of Understanding (MoU) with the Nairobi Securities Exchange Plc (NSE) and iCapital Africa Institute, marking a significant step towards enhancing financial markets in Ethiopia and the broader East African region. This strategic collaboration seeks to enhance the growth and development of capital markets between Kenya and Ethiopia through various strategic initiatives. Equally, the collaboration will support the integration of capital markets in the two countries, leveraging the expertise and experience of the NSE and iCapital. The partnership will place special focus on key areas such as knowledge exchange, capacity building, and the promotion of cross-border investments. The MoU outlines several initiatives, including joint training programs for market participants, the establishment of a strong regulatory framework, and the exploration of innovative financial products to meet the growing needs of investors in both countries.

Tilahun Esmael Kassahun (PhD), Chief Executive Officer of ESX, emphasized the importance of this collaboration, stating, “This partnership with NSE and iCapital institute is a pivotal moment for the Ethiopian capital market. It will not only accelerate our market’s growth but also position Ethiopia as a key player in the regional financial landscape.” Commenting on the partnership, Mr. Frank Mwiti, Chief Executive, expressed enthusiasm for the collaboration, highlighting the potential for increased regional integration, stating, ” The NSE is delighted to partner with the Ethiopian Securities Exchange and iCapital institute to further the growth of capital markets in Kenya and Ethiopia. This partnership will unlock significant opportunities for issuers and investors in both countries, enhancing the appeal of the region to both domestic and international investors. Dr. Gemechu Waktola, Chief Executive Officer of iCapital Africa Institute, added, “Our focus at iCapital is to support this partnership by delivering cutting-edge intellectual capital solutions. We are eager to contribute to the growth of capital markets in Ethiopia and the region through innovation and technology transfer.”

This MoU signifies a shared commitment to the development of strong, transparent, and accessible capital markets, ultimately contributing to economic growth and financial inclusion in both Ethiopia and Kenya. The ESX, NSE, and iCapital Africa Institute will work closely together in the coming months to implement the initiatives outlined in the MoU, to achieve tangible outcomes that will benefit both markets.

About Nairobi Securities Exchange (NSE):

The Nairobi Securities Exchange (NSE) is the principal securities exchange in Kenya. It offers a world-class trading facility for local and international investors and issuers looking to gain exposure to Kenya’s and Africa’s economic growth. The NSE plays a vital role in the growth of Kenya’s and Africa’s economies through the mobilization of domestic resources and global capital. The NSE is a founder member of the African Securities Exchanges Association (ASEA) and the East African Securities Exchanges Association (EASEA). It is a full member of the World Federation of Exchanges (WFE), the Association of Futures Markets (AFM) and also a partner Exchange in the United Nations Sustainable Stock Exchanges Initiative (SSE). NSE operates under the regulatory jurisdiction of the Capital Markets Authority of Kenya.

About I Capital Africa Institute:

The I-Capital Africa Institute is a consulting firm based in Ethiopia specializing in providing capacity development and advisory solutions for enterprises across Africa. Its services include knowledge sharing platforms, human capital development, capital market, organizational transformation, and innovation-driven advisory solutions. Furthermore, I Capital provides Cross-Border and exposure-based learning programs in selected countries in Africa, Europe, Asia, and the USA.