Connect with us

News

Ethiopia approves the setting up of its capital market structure

Published

on

Ethiopia approves

Ethiopia approves the setting up of its capital market structure


 

Ethiopia’s cabinet on Tuesday endorsed the establishment of a stock market, Prime Minister Abiy Ahmed tweeted.

The finance ministry said in June it had drafted a bill to create a stock market authority. It was not immediately clear if this was the bill passed on Tuesday.

Abiy’s office tweeted a statement saying that a capital market would ease Ethiopia’s dependency on foreign finance.

Since Abiy took office in 2018, the government has slowly begun introducing economic reforms, including preparing to open state-controlled sectors such as telecommunications to foreign investors.

Ethiopia is Africa’s second-most populous nation and its economy has in the past decade been one of the world’s fastest-growing, due mainly to heavy state spending on infrastructure.

Click to comment

Leave a Reply

Your email address will not be published.

Advertisement

multiplex

mebookshelfandi