Temi Popoola, the Group CEO of Nigerian Exchange Group Plc (NGX Group), highlighted the game-changing possibilities of Africa’s capital markets during the launch of the Ethiopian Securities Exchange (ESX).

At the event, Popoola stressed the importance of enhancing regional cooperation, fostering partnerships between the government and private sector, and creating innovative market solutions to tap into the continent’s economic potential.

NGX Group’s investment in ESX showcases its commitment to improving Africa’s capital market infrastructure. “The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape,” Popoola stated. “ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”

Popoola elaborated on NGX Group's investment strategy, emphasizing Ethiopia's vast market opportunities and a mutual commitment to driving economic advancement through innovation. "Our collaboration goes beyond conventional investment frameworks," he stated. "It aims to position ESX as a pivotal entity within Africa's financial landscape, facilitating cross-border investments and establishing standards for market evolution."

He also referenced global success stories, such as India, which has effectively utilized its capital markets to drive substantial economic change. He underscored the necessity of a responsible approach to market liberalization to draw in both local and continental investments. "By pursuing this strategy, Ethiopia has the potential to emerge as a financial center in Africa," he noted.

Prime Minister Abiy Ahmed praised the inauguration of ESX as a significant step in the nation's economic modernization efforts. "Today marks the official launch of the Ethiopian Securities Exchange, our country's inaugural stock exchange," the Prime Minister shared on X. "This serves as an invitation to global investors: Ethiopia presents vast opportunities, a rapidly expanding economy, and a clear path toward collective prosperity."

Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, expressed optimism regarding the partnership with NGX Group. "We are excited to have NGX Group as a strategic ally, building on the ongoing support we receive from them," he stated. Kassahun also highlighted the importance of NGX Group's expertise in guiding the growth and success of ESX.

Leveraging six decades of expertise from NGX Group, Popoola provided valuable perspectives on the importance of diversifying financial instruments and broadening access to investment opportunities. He emphasized that “by combining innovation, supportive policies, and regional cooperation, Ethiopia’s capital market has the potential to significantly contribute to economic growth and position itself as a frontrunner in Africa’s financial landscape.”

As the ESX prepares to transform Ethiopia’s financial environment, NGX Group’s participation underscores the essential nature of collaboration and shared knowledge in promoting Africa’s economic story.