The grant is part of a broader initiative financed by the Capital Market Development Trust Fund, a donor-backed fund managed by the AfDB. The fund, established in 2019, has supported capital market development in 16 African countries, with total disbursements exceeding $6 million to date.
Assefa Sumoro, Senior Advisor to ECMA, stated that the grant will be used to enhance digital systems that enable the provision of timely and transparent information to investors, regulators, and market participants. "This support is key to building trust and operational efficiency in Ethiopia’s emerging capital market," he said.
The initiative will improve real-time access to trading data and company disclosures and facilitate a broader adoption of financial technologies by securities firms and other stakeholders.
The funding is expected to accelerate the establishment of a reliable trading environment and contribute to expanding the supply of investment products in the Ethiopian capital market.
Assefa also emphasized Ethiopia’s intention to deepen its partnership with the African Development Bank in future market development efforts.