ESX Instrumental to Enhance Country’s Financial System, Brings Inclusive Economy: PM Abiy

Addis Ababa January 10/2025 (ENA)— Prime Minister Abiy Ahmed underscored that the launch of the Ethiopian Securities Exchange (ESX) will enhance the financial system and contributes to the development of an inclusive economy.

The premier has officially launched ESX on Friday, marking a transformative milestone in the nation's journey toward economic modernization.

The ESX functions within three distinct market segments which are the Equity Market, the Fixed Income Market, and the Money Market, providing a variety of financial products tailored for businesses, government entities, and institutions.

Prime Minister Abiy said in his remark at the launching ceremony that digitization was one of the measures taken following the reform to repair the national economy and improve the lives of the citizens.  

The Digital Ethiopia initiative has facilitated the expansion of the digital finance system, the premier pointed out.  Currently, he noted that 51 million citizens are using mobile banking.

 

The achievements observed in the digital banking sector should be bolstered by the capital market system to further enhance economic efficiency, Abiy further stressed.

He said Ethiopia's economy is huge that drives Africa's largest airline, which has successfully built giant hydropower dams, and companies such as the Ethio-Telecom.   

This huge economy is favorable for securities exchange market; Abiy underscored affirming its effectiveness.

The government has dedicated considerable time and conducted thorough research to ensure its effectiveness, the premier noted.