NGXGroup CEO Charts Vision For Pan-African Market At Ethiopian Securities Exchange Unvieling
Temi Popoola, Group Chief Executive Officer of the Nigerian Exchange Group Plc (NGX Group), at the weekend in Addis Ababa, capital of Ethiopia highlighted the potential of African capital market to transform the continent.
To unlock this inherent strength, however, he noted during the launch of the Ethiopian Securities Exchange (ESX), the need for regional collaboration, government-private sector synergy, and innovative market solutions
A statement by the NGX Group said its strategic investment in ESX underscores its leadership in advancing Africa’s capital market infrastructure.
For Popoola therefore, “the launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape. ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”
Expounding on NGX Group’s investment rationale, Popoola highlighted Ethiopia’s immense market potential and the shared vision of fostering economic growth through innovation.
“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 added.
Popoola also drew parallels with global success stories like India, which has leveraged its capital markets to achieve significant economic transformation, emphasizing the importance of responsible market opening to attract local and continental capital.
“By following this path, Ethiopia can become a financial hub in Africa,” he continued.
Commenting on the event via X, Prime Minister Abiy Ahmed lauded the launch of ESX as a transformative milestone in the country’s journey toward economic modernization.
“Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange. This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory toward shared prosperity,” he said.
Also speaking on the development, Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, expressed confidence in the partnership with NGX Group “as a strategic partner, building upon the existing support we continue to receive from them.”
Kassahun also emphasized the value of NGX Group’s expertise in shaping ESX’s growth and success.
Drawing from NGX Group’s six decades of experience, Popoola shared insights on diversifying financial instruments and expanding access to investment opportunities.
“With the right mix of innovation, policy support, and regional collaboration, Ethiopia’s capital market can play a transformative role in driving economic development and establish itself as a leader in Africa’s financial ecosystem,” he concluded.
With the ESX poised to redefine Ethiopia’s financial landscape, NGX Group’s involvement highlights the critical role of partnerships and shared expertise in advancing Africa’s economic narrative.
Investdata News recall that the NGX Group, last April, announced that it had acquired a significant 5% stake in the ESX, making it a top institutional investor in the East African bourse, having injected capital into the operationalisation of the bourse. Other institutional investors were listed as: FSD Africa, a UK-backed non-profit financial institution, and Trade and Development Bank Group (TDB), the financial arm of the Common Market for Eastern and Southern Africa (COMESA) trade block.
