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Ethiopia sets course for a decade of capital market reform

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The Economic Commission for Africa (ECA), the Ethiopian Capital Market Authority (ECMA), FSD Africa and Ethiopia convened over 80 representatives from Ethiopia’s financial sector this week for the Stakeholder Validation Workshop of Ethiopia’s Capital Markets Master Plan (CMMP), a ten-year strategic roadmap designed by Genesis Analytics and Bourse Consult to develop a deep, diversified, and trusted capital market capable of financing the country’s economic transformation.

Held at the UN Conference Centre in Addis Ababa, the two-day workshop brought together regulators, government ministries, financial institutions, capital market intermediaries, professional associations, and development partners to review the draft CMMP, stress-test its implementation priorities, and build collective ownership of the reform agenda it sets out.

Ethiopia’s capital market has moved rapidly from institutional establishment into early market operation. The Ethiopian Securities Exchange is operational, the Central Securities Depository is advancing, and licensed intermediaries are active. The CMMP now provides the strategic framework to consolidate these gains and move toward a more mature, diversified market over the coming decade.

UNESCO honors Sudanese journalists syndicate with 2026 World Press Freedom Prize

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The UNESCO/Guillermo Cano World Press Freedom Prize 2026 was awarded to the Sudanese Journalists Syndicate, in recognition of its courageous work defending press freedom amid the ongoing conflict in Sudan.

Over the recent years of conflict, the Syndicate has documented dozens of journalist killings and hundreds of violations against media workers, continuing to provide vital, reliable information under extremely dangerous conditions. With much of the country’s media infrastructure destroyed, their work remains essential to ensuring access to information in what has become a “zone of silence.”

The Award Ceremony was held in UNESCO headquarters in Paris on 4th May. UNESCO’s Director-General Khaled El-Enany awarded the Prize, on the recommendation of an independent international Jury, at the presence of a delegation of fourteen representatives of the Sudanese Journalists Syndicate (SJS).

Abdoulaye Ndiaye, winner of the first edition of the Africa NextGen Economist Prize

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The Africa NextGen Economist Prize, created by Jeune Afrique and The Africa Report, in partnership with the African Development Bank, has been awarded to Abdoulaye Ndiaye, a 37-year-old Senegalese economist, assistant professor at New York University’s Stern School of Business and affiliated with the Finance for Development Lab.

Presented in Kigali, on the sidelines of the Africa CEO Forum, the prize aims to spotlight a new generation of African economists whose research helps renew economic thinking on the continent and inform public policy. For this first edition of the Africa NextGen Economist Prize, the jury chose to recognize Abdoulaye Ndiaye for the rigor, originality, and relevance of his research in addressing the economic challenges facing African states.

Selected from more than 70 candidates from 14 African countries, Abdoulaye Ndiaye is a graduate of École Polytechnique and holds a PhD from Northwestern University in the United States. He conducts research at the intersection of public finance, development economics, and political economy. His work seeks to identify the institutional and market constraints that limit African states’ ability to ensure households, mobilize domestic resources, and preserve macro-financial stability. His research focuses on unemployment insurance in economies with high levels of informality, tax productivity, and sovereign debt management, with findings that can be directly applied to the design and evaluation of public policies.

Africa Day must mean Africa’s empowerment

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Africa Day should be more than a ceremonial date on the calendar. It should be a reminder that the continent’s future depends on whether Africans are given the power, resources and confidence to shape it themselves.

Each year, Africa Day offers an opportunity to celebrate the continent’s history, resilience and cultural richness. But celebration without transformation risks becoming routine. If Africa Day is to have real meaning, it must be tied to a clear agenda: empowering Africans economically, politically, socially and intellectually. The continent cannot continue to be treated as a source of raw materials, cheap labor and endless potential while remaining underpowered in the decisions that shape global development.

Africa is home to the world’s youngest population, vast natural resources, dynamic entrepreneurs and some of the fastest-growing cities. Yet too many Africans still face limited access to quality education, weak health systems, unemployment, conflict, debt stress and poor infrastructure. These challenges are not signs of failure. They are signs of unfinished work. And that work must begin with empowerment.

Empowerment means building systems that allow Africans to create value at home rather than exporting opportunity abroad. It means investing in schools that produce problem-solvers, not just certificate holders. It means financing small businesses, farmers, manufacturers and innovators so they can grow beyond survival. It means expanding access to electricity, digital connectivity, transport and affordable credit. Without these basics, talk of transformation remains empty.

It also means trusting African institutions and African talent. Too often, solutions to Africa’s problems are designed elsewhere, with little understanding of local realities. Africa does not lack ideas; it lacks enough space, capital and policy consistency to scale them. Governments must therefore create environments where entrepreneurs, researchers, artists and community leaders can thrive. Development will not be delivered from outside. It must be built from within.

Women and young people must be at the center of this agenda. Africa cannot empower itself while excluding the majority of its population from decision-making and opportunity. Women drive households, markets and communities, yet they still face barriers to finance, land, leadership and safety. Young people are often spoken about as the future, but they are also the present. They need jobs, mentorship, digital skills and a real voice in governance. Empowerment is not complete if it leaves them behind.

Africa Day should also prompt leaders to think more boldly about integration. The African Continental Free Trade Area offers one of the strongest tools for empowerment if it is implemented seriously. A continent that trades more with itself, invests more in itself and solves more problems collectively will be harder to marginalize. Integration is not just an economic project; it is a political statement that Africa intends to stand together.

At the same time, empowerment requires accountability. African citizens must be able to demand better governance, less corruption and more responsible leadership. No amount of patriotic language can substitute for institutions that work. Empowerment is not only about what Africa receives; it is also about what African leaders are willing to reform.

As Africa Day approaches, the message should be simple: Africa does not need pity, and it does not need charity disguised as partnership. It needs fair terms, smart investment and the freedom to determine its own path. The continent’s future will not be secured by speeches alone. It will be secured by policies, institutions and leaders that unlock the potential of its people.

Africa should not merely be celebrated. It should be empowered.