Nigerian Exchange Group acquired a 5% stake in Ethiopian Securities Exchange for capital-market expansion in East Africa.
Nigerian Exchange Group (NGX) acquired a 5% stake in Ethiopian Securities Exchange (ESX) as part of its effort to expand capital-market activities in East Africa and across the continent. NGX, based in Lagos, invested alongside FSD Africa and Trade and Development Bank Group during a capital-raising exercise by ESX. NGX's investment in the Ethiopian Stock Exchange highlights its confidence in Ethiopia's rapidly growing economy and capital market.
April 07, 2024
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