Temi Popoola Outlines Pan-African Market Vision at Launch of Ethiopian Securities Exchange

Temi Popoola, Group CEO of Nigerian Exchange Group Plc (NGX Group)

At the official launch of the Ethiopian Securities Exchange (ESX), Temi Popoola, Group CEO of Nigerian Exchange Group Plc (NGX Group), underscored the transformative potential of capital markets across Africa, advocating for increased regional collaboration, government-private sector partnerships, and innovative market solutions to fuel the continent’s economic growth.

The strategic investment by NGX Group in the ESX marks a significant step in enhancing Africa’s capital market infrastructure. Popoola emphasized that the launch of the exchange is a critical milestone for both Ethiopia and the larger African financial ecosystem. “ESX will play a pivotal role in fostering capital formation and market liquidity, which are essential for driving sustainable economic development,” he noted during his address.

Popoola further elaborated on NGX Group’s rationale for investing in ESX, focusing on Ethiopia’s promising market potential. “This partnership is not just about financial investment; it is a strategic effort to position the ESX as a major player in Africa’s financial markets,” he explained. “It will promote cross-border investments and set new standards for market growth and development.”

He also pointed to global examples, such as India’s economic transformation fueled by its capital markets, to illustrate the immense benefits of responsible market openings. “By following this model, Ethiopia has the opportunity to become a key financial hub in Africa,” he said.

Prime Minister Abiy Ahmed praised the launch of the ESX as a transformative step in Ethiopia’s economic modernization. “Today, we officially mark the opening of the Ethiopian Securities Exchange, our nation’s first stock exchange. This is a call to global investors, showcasing Ethiopia’s immense potential, a rapidly growing economy, and a clear path toward shared prosperity,” he declared on social media platform X.

Tilahun Esmael Kassahun, CEO of the Ethiopian Securities Exchange, expressed confidence in the collaboration with NGX Group, acknowledging their expertise as crucial in shaping the future growth of the ESX. “We are proud to have NGX Group as a strategic partner, and we look forward to building upon their support to further strengthen the exchange,” he stated.

Drawing on NGX Group’s rich 60-year legacy, Popoola highlighted the importance of diversifying financial instruments and improving access to investment opportunities. “With the right combination of innovation, policy support, and regional cooperation, Ethiopia’s capital market can serve as a catalyst for economic progress and establish itself as a leader in Africa’s financial ecosystem,” he concluded.

As ESX is poised to reshape Ethiopia’s financial landscape, NGX Group’s involvement reinforces the vital role of strategic partnerships in advancing Africa’s broader economic narrative.