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

  • 📰 TheAfricaReport
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 55%

United States News News

United States United States Latest News,United States United States Headlines

More than half a century without an official capital market has left Ethiopia short of the range of expertise needed to make a success of current plans, says Mered Fikireyohannes, CEO of Pragma Investment Advisory in Addis Ababa.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 29. in US

United States United States Latest News, United States United States Headlines