The Ethiopian Securities Exchange has launched a mobile application called Nway in Addis Ababa to make the capital market accessible to all citizens. This app allows individuals to trade shares and bonds directly via their phones for the first time in the country's history. Officials state that it positions Ethiopia as a competitive player in the global capital market.
On this day in Addis Ababa, Tilahun Esmael (Dr.), the CEO of the Ethiopian Securities Exchange, introduced the Nway mobile application. For the first time in the nation's history, the app enables any individual to trade shares and bonds directly using their mobile phone.
Tilahun Esmael stated during the launch ceremony, “Nway makes the market accessible in every Ethiopian's hand.” The application allows investors to participate directly in the country's economic growth at any time and place, facilitating the buying and selling of securities through their phones.
Hana Telkhu, CEO of the Ethiopian Capital Market Authority, noted that many countries took a long time to implement such technological systems. Ethiopia, by learning from other nations, has rapidly modernized its market infrastructure. All citizens are encouraged to open investment accounts and become participants.
Government support and clear regulations have played a significant role in this achievement. Bruck Taye (Dr.), from the Ethiopian Investment Holding, emphasized that the market enables full participation by all citizens and will draw on the successes of applications like Telebirr and the Commercial Bank of Ethiopia's app. The app is currently prepared for deployment on Android and iOS devices. EZGA announced that efforts are underway to establish Ethiopia as a competitive capital market owner on the global stage.