Popoola Harps on Stronger Regional Collaboration to Unlock Africa’s Economic Potential

Kayode Tokede 

The Group CEO of Nigerian Exchange Group Plc, Mr. Temi Popoola has emphasised on the need for stronger regional collaboration, government-private sector synergy, and innovative market solutions to unlock the continent’s economic potential.

He reiterated the transformative potential of Africa’s capital markets at the launch of the Ethiopian Securities Exchange (ESX).

NGX Group’s strategic investment in ESX underscores its leadership in advancing Africa’s capital market infrastructure. “The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape,” Popoola stated.

“ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”

Expounding on NGX Group’s investment rationale, Popoola highlighted Ethiopia’s immense market potential and the shared vision of fostering economic growth through innovation. “Our partnership transcends traditional investment parameters,” he explained. “It is about ensuring that ESX evolves into a key player in Africa’s financial ecosystem, enabling cross-border investments and setting benchmarks for market development.”

Popoola also drew parallels with global success stories like India, which has leveraged its capital markets to achieve significant economic transformation. He emphasized the importance of responsible market opening to attract local and continental capital. “By following this path, Ethiopia can become a financial hub in Africa,” he remarked.

Prime Minister Abiy Ahmed lauded the launch of ESX as a transformative milestone in the country’s journey toward economic modernization. “Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange,” the Prime Minister announced on X. “This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory toward shared prosperity.”

CEO of the Ethiopian Securities Exchange, Tilahun Esmael Kassahun expressed confidence in the partnership with NGX Group. “We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” he said. Kassahun also emphasized the value of NGX Group’s expertise in shaping ESX’s growth and success.