Family Businesses Essential for Capital Market Expansion — ESX CEO

Addis Ababa, November 25, 2025 (ENA) — Family-owned firms play a crucial role in the growth of Ethiopia’s capital market, Tilahun Esmael, CEO of the Ethiopian Securities Exchange (ESX), said at the Third Ethiopian Family Business Forum (EFBF) 2025.

The forum, organized by HST Consulting in partnership with ESX and the EFBF Advisory Council, took place in Addis Ababa on Tuesday, under the theme “Embracing Change for Growth and Innovation.”

 

 

The event assembled business leaders, industry experts and strategic partners to discuss how family businesses can scale, access finance and professionalize governance to ensure long-term sustainability.

Tilahun Esmael, CEO of ESX, said family businesses’ substantial presence in the private sector makes them key to expanding the country’s capital markets.

With the Ethiopian economy showing signs of progress, ESX offers a modern, regulated platform that enables companies to raise long-term capital through equity and debt instruments.

ESX, he added, is committed to mobilizing financial resources for both public and private institutions and to building a well-regulated, efficient market.

The conference concentrated on three interlinked pillars including financing, Innovation and governance

Solomon Gizaw, HST Chairman and CEO, said family businesses are the backbone of Ethiopia's private sector, contributing significantly to job creation, innovation, and long-term economic stability.

Therefore, recognizing their importance, HST launched the Ethiopian Family Business Forum (EFBF) in 2023 as a dedicated platform to support and strengthen family enterprises in Ethiopia, he noted.

 

 

Noting most of family business faced challenges to sustain at second and third generation, he stressed, the need for concerted efforts with respect to policy wise, to empower youths to the leaderships and leveraging innovations extensively to enable business sustain through generation.

HST trains, supporting technical support for family businesses to enable them transform to modernizations operation system, he added.

In his keynote as guest of honor, celebrated athlete Haile Gebrselassie said family businesses are more than commercial entities — they are legacies founded on shared values.

 

 

He underscored that innovation for family firms is not limited to technology adoption; it includes rethinking operating models, promoting a culture of creativity, and embracing digital transformation to remain resilient in a dynamic environment.

The Third Ethiopian Family Business Forum (EFBF) builds on the inaugural forum launched in March 2023 and the 2024 edition, continuing efforts to support family firms through peer learning, research and locally relevant governance practices.

The forum’s objectives include helping family businesses access diverse funding sources, professionalize governance, manage succession and foster innovation.

Family enterprises are a critical pillar of Ethiopia’s private sector, with important implications for employment and economic development.