Ethiopian banks need corporate-governance overhaul to make stock market work - The Africa Report.com

Reserved for subscribersSign for a branch of Commercial Bank of Ethiopia along Bole Road in Addis Ababa, Ethiopia, July 31, 2019. REUTERS/Maheder Haileselassie Tadese

The country had an informal stock market in the late 1950s, which became official in 1965. The socialist revolution of 1974-75 led to the nationalisation of private businesses and the end of the exchange. That era now seems to be closing, with the starting roadshows to raise capital in May. The exchange is offering ownership of up to 75% to local and foreign private-sector investors.Get unlimited access to our exclusive journalism and features today.

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