It is anticipated that the Ethiopia Market Authority would oversee the establishment of a stock market in Ethiopia during the fourth quarter of this year. An agreement between a local law company, MLA, and an international consultant, Axis Capital, was held last Thursday to assist stock marketeers in navigating Ethiopia’s stock market.
According to the agreement, the two institutions will work together to assist stock buyers by providing and giving advice on issues relating to the market, legal, and financial aspects of Ethiopia’s stock market.
According to MLA’s Managing Partner Mehrteab Leul, precise information is essential in the stock market.
“Although our company has been working with several foreign businesses in Ethiopia, we still lack practical expertise in the stock market despite having studied up on it. We talked about and chose to work with AXIS .Through our relationship, Ethiopian stock will benefit from appropriate consultancy services for businesses looking to list, purchase, and sell stocks.” He said .
The process by which securities exchanges list their stocks is an essential part of the capital market ecosystem. It provides a platform for companies to raise capital through the sale of shares or other financing
instruments that are offered for public trading. And we’ll put in a lot of effort on this front.” He added.
According to AXIS Co-Founder Mark Duffy, firms need to seek out in-depth consulting in order to properly understand the Ethiopian market, especially as the country prepares to launch its stock exchange.
“Efficient transactions enable the mobilisation of monetary resources by establishing a connection between individuals possessing the ability to invest and those requiring funds for expansion and innovation. Development and economic progress follow from this.
They operate in a regulated, secure, transparent, and equitable environment.
With an emphasis on upholding the interests of significant stakeholders and shareholders, exchanges also seek to provide their listed issuers with transparent, responsible, and efficient corporate governance. Additionally, it is imperative that we have knowledgeable counsel in this area, and working with MLA would be advantageous in this aspect.”
Founded by Mehrteab Leul Kokeb, Mehrteab and Getu Advocates LLP Office (“MLA”) is a leading full-service law office in Ethiopia with over twenty years of experience advising and representing clients on a wide range of matters primarily related to corporate law, finance, and investment in Ethiopia.
Operating through its subsidiaries, AXIS Capital is a global provider of insurance and reinsurance solutions specialising in underwriting.
As of 31 March this year, the company’s shareholders’ equity stands at $5bn. It has a presence in Bermuda, the US, Europe, Singapore, and Canada.