Ethiopia needs to develop formal stock market systems to help companies raise capital, a top official of the African Development Bank said, according to New Business Ethiopia.

“It is the right time for Ethiopia to invest on the necessary infrastructures that will enable it to introduce [the] stock market. This will enable the country to mobilize capital and encourages saving,” AfDB chief economist Mthuli Ncube said Aug. 13 at the opening of a meeting in Addis Ababa among African ministers on civil registration.

He added: “It doesn’t matter who owns it. But, the modern way of introducing [the] stock market is by setting up a company formed in public-private-partnership (government and the private sector). In the case of Ethiopia, the majority of shares at this stage should be owned by the government.”

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.