Ethiopia to liberalize more sectors with first exchange set to launch

Ethiopia is set to relax restrictions on foreign participation in its domestic financial markets in anticipation of the launch of its local currency securities exchange platform next year. Over the past two years, the country has already welcomed foreign involvement in its telecommunications and banking sectors, allowing companies like Safaricom from Kenya and KCB Bank to establish operations within Ethiopia. 

While these sectors have become more accessible to foreign firms, other areas have remained restricted, limiting participation in the country's financial markets to locals and the Ethiopian diaspora. Brook Taye, the director-general of the Ethiopian Capital Markets Authority (ECMA), shared that the nation is actively working to liberalize more sectors.

"Over the past five years, the country has adopted an exceptionally progressive and forward-looking economic policy, leading to substantial improvements. The holistic approach has been instrumental in shaping the overall economic landscape," he said.