Ethiopia excludes diaspora and foreign investors from historic Ethio Telecom IPO
- Ethiopia prohibits foreign and diaspora investors from Ethio Telecom's IPO.
- The Ethiopian Securities Exchange (ESX) is set to launch later this month.
- The government aims to raise $255 million by selling a 10% stake in Ethio Telecom.
The Ethiopian government's decision to exclude foreign and diaspora investors from the IPO reflects a cautious approach that may hinder economic growth and the anticipated liberalization of the capital markets. This protective stance could deter foreign investment and limit the potential benefits of opening up the economy, which is critical for Ethiopia's financial development.
