The Ethiopian Securities Exchange has expanded its board of directors, bringing in two regional institutions for the first time. The move was finalized during a general assembly, which approved a new 11-member board.

The board, previously composed of seven members, now includes representatives from the Nigerian Exchange Group (NGX Group) and the Eastern and Southern African Trade and Development Bank (TDB). NGX Group’s CEO, Temi Popoola, has joined the board following the group’s strategic investment in the ESX, marking the first time foreign institutions have gained representation. The inclusion of these regional players signals a shift toward broader integration in Ethiopia’s emerging capital market.

Eight of the board members are new, including Yared Molla of Nyala Insurance, Fikru Tsegaye from Ethiopian Reinsurance Company, Dr. Ermias Arega of Enat Bank, and Dr. Brook Taye from Ethiopia Investment Holding, alongside the representatives from NGX Group and TDB.

This restructuring comes as part of ESX’s ongoing efforts to strengthen governance and credibility. The exchange, officially launched last year, reached a milestone in June with its first inter-broker stock trade, moving closer to fully operational trading activities. The expanded board is expected to guide the exchange through the next phase, as it finalizes legal and operational frameworks.