NGX Group champions Africa’s financial future at ESX launch
BY TEMITOPE ADEBAYO
The Group Chief Executive Officer of Nigerian Exchange Group Plc (NGX Group), Temi Popoola, has reaffirmed the transformative potential of Africa’s capital markets, marking a historic moment with the launch of the Ethiopian Securities Exchange (ESX).
Speaking at the event, Popoola emphasised the importance of regional collaboration, innovation, and synergy between governments and the private sector to unlock the continent’s economic potential.
He described the ESX as a pivotal development that could catalyse capital formation, enhance market liquidity, and drive sustainable economic growth in Ethiopia and beyond.
“The launch of ESX is a landmark achievement for Ethiopia and the African financial ecosystem,” Popoola stated. “It represents an opportunity to foster cross-border investments, set new benchmarks for market development, and establish Ethiopia as a financial hub in Africa.”
Popoola highlighted NGX Group’s strategic investment in ESX as a testament to its leadership in advancing Africa’s capital market infrastructure. Drawing parallels with India’s economic transformation through its capital markets, he urged Ethiopia to embrace responsible market opening to attract both local and continental investments.
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“Ethiopia has immense potential to reshape its economic trajectory and create a financial ecosystem that promotes inclusive growth. Our partnership with ESX goes beyond financial investment—it is about building a sustainable future for Africa’s markets,” Popoola added.
Prime Minister Abiy Ahmed praised the launch of ESX as a transformative step in Ethiopia’s journey toward economic modernisation. Announcing the milestone on X, he called on global investors to explore Ethiopia’s opportunities, citing its fast-growing economy and commitment to shared prosperity.
CEO of the Ethiopian Securities Exchange, Tilahun Esmael Kassahun, commended NGX Group’s invaluable support, citing its six decades of expertise as crucial to ESX’s development.
“With NGX Group as a strategic partner, we are confident in creating a robust capital market that will redefine Ethiopia’s financial landscape,” Kassahun said.
Popoola also emphasised the need for diversifying financial instruments and expanding access to investment opportunities across the continent.
“Innovation, policy support, and regional collaboration will ensure Ethiopia’s capital market becomes a leading force in Africa,” he concluded.
As the ESX sets out to transform Ethiopia’s economy, NGX Group’s involvement underscores the significance of partnerships in advancing Africa’s financial narrative and fostering sustainable economic growth.
