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Ethiopia’s Emerging Stock Exchange

Ethiopia is in the process of building the first full-fledged capital market in the country, where equities, bonds, financial derivatives, real estate investment trusts, currency exchange contracts and other products will be traded.

Enacted in June 2021, the Capital Markets Proclamation outlined the legal and regulatory framework for the highly anticipated Ethiopian Securities Exchange. To fully operationalize the Proclamation, ongoing actions are being taken to put in place the necessary institutions, policies, legal instruments, and market infrastructure. The exchange will be established as a share company through a public-private partnership arrangement and is expected to be realized by the end of 2022.


A capital market can be used as an alternative financial source for the government and private sector, while easing dependency on foreign finance. Having Africa's second-highest population and being one of the world’s fastest-growing economies, the establishment of Ethiopia's capital market poses a great opportunity. It is expected to offer financing options for companies and connect untaped investors to the desired investment opportunities.

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