African Development Bank provides $400,000 for Public Disclosure Platform to boost capital market

The African Development Bank Group and the Ethiopian Capital Market Authority (ECMA) have signed a grant agreement for $400,000 for the set up of a public disclosure platform and rollout of new financial products including exchange traded funds and green bonds at the Ethiopian Securities Exchange

The grant, which will support the Ethiopia Capital Market Development Support Project, is being provided by the Capital Markets Development Trust Fund (CMDTF). The initiative builds on previous African Development Bank Group support including creation in 2021 of Ethiopia’s capital market legal framework in 2021. 

The planned public disclosure platform will facilitate timely and accurate dissemination of company information to investors, shareholders, and other market participants, thereby enhancing decision-making and fair price discovery in the market.

Under the product  development component, new and diversified product offerings will be introduced, including Exchange Traded Funds, a type of investment fund that can be bought and sold on stock exchanges, sukuks (sharia-compliant financial instruments) and green bonds