From Ethiopia’s efforts to deepen capital market reforms and Morocco’s emergence as Africa’s leading industrial economy to rising borrowing costs, inflationary pressures in Kenya and Botswana’s latest diversification push, the continent’s major economies are increasingly repositioning for long-term growth amid mounting global uncertainty.
Here are the stories shaping the first week of June
Ethio Telecom becomes first non-bank listing on Ethiopia’s new stock exchange
Ethio Telecom has officially begun trading on the Ethiopian Securities Exchange (ESX), becoming the first major non-financial company to join the country’s fledgling capital market. The listing follows the government’s partial privatisation of the telecom operator, during which 47,377 investors purchased 10.7 million shares worth 3.2 billion birr ($20 million).
Why it matters: The listing marks a major milestone in Ethiopia’s long-delayed capital market reforms and signals growing efforts by the government to open the economy to private investment. It also broadens the ESX beyond financial institutions, potentially paving the way for future listings from sectors such as telecoms, manufacturing and energy in one of Africa’s largest untapped markets.
