Ethiopia’s maiden stock exchange finally opens trading floor
Ethiopia’s long-anticipated stock exchange went live on Friday, marking a turning point for an economy struggling with low access to finance. Banking gurus, economists, and investors who have advocated for a stock market in past decades have hailed the inauguration of the Ethiopian Securities Exchange (ESX) as historic.
Drop in global coffee prices forced Ethiopia to default on $133 million contracts
Ethiopian coffee exporters have defaulted on 394 coffee export contracts since October 2022. The exporters say they have no choice but to breech their contract because the international coffee price has dropped below the local price in Ethiopia, slashing the profit margin they had anticipated
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