NGX Popoola champions Africa’s market growth at ESX launch

The Group CEO of Nigerian Exchange Group Plc (NGX Group), Temi Popoola, reaffirmed Africa’s untapped potential in capital markets during the highly anticipated launch of the Ethiopian Securities Exchange (ESX).

As Ethiopia marked a historic milestone with its first-ever stock exchange, Popoola underscored the significance of regional collaboration, government-private sector synergy, and innovative solutions in unlocking the continent’s economic potential.

Speaking at the event, Popoola highlighted NGX Group’s strategic investment in the ESX as a testament to its commitment to advancing Africa’s financial landscape.

“The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape,” he declared.

“ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”

Popoola emphasised Ethiopia’s vast market potential, positioning ESX as a springboard for broader regional financial integration.

“Our partnership transcends traditional investment parameters. It is about ensuring that ESX evolves into a key player in Africa’s financial ecosystem, enabling cross-border investments and setting benchmarks for market development,” he explained.

Drawing parallels with global success stories like India, Popoola advocated for the careful opening of markets to attract both local and continental capital.

“By following this path, Ethiopia can become a financial hub in Africa,” he added.

Prime Minister Abiy Ahmed celebrated the event as a turning point in Ethiopia’s economic modernisation efforts.

“Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange,” he shared on X, formerly Twitter.

“This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory towards shared prosperity.”

CEO of ESX, Tilahun Esmael Kassahun, echoed these sentiments, expressing optimism about the future of Ethiopia’s financial markets and NGX Group’s role in shaping them.

“We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” Kassahun stated.

Leveraging over six decades of experience, NGX Group brings critical insights into diversifying financial instruments and expanding access to investment opportunities. Popoola outlined a roadmap for Ethiopia’s capital market, calling for a blend of innovation, policy reforms, and regional partnerships to propel growth.

Popoola concluded that with the right combination of innovation, policy support, and regional collaboration, Ethiopia’s capital market could drive economic development and emerge as a leader in Africa’s financial ecosystem

Industry experts emphasised that the launch of the ESX, supported by NGX Group as a strategic investor, highlights the critical role of partnerships in shaping Africa’s financial future. By harnessing shared expertise and advancing regional integration, Ethiopia is carving a path to becoming a leading force in the continent’s evolving capital markets.

NewsDirect
NewsDirect
Articles: 52381