ETHIOPIAN STOCK EXCHANGE IS OPENING UP

[HoodHawiye]

Ethiopia's securities exchange to go live in October

In line with ongoing efforts to become an open economy, Ethiopias securities exchange is expected to begin operations in October, according to its chief executive

africa.businessinsider.com

— New BRICS member Ethiopia to launch a securities exchange by October





Ethiopia's securities exchange is expected to begin operations in October, according to its chief executive, as reported by state-affiliated media on Thursday





Despite being East Africa's largest economy, with a GDP of around $205 billion according to the IMF, Ethiopia has lacked a stock exchange





The government is actively seeking private investors to purchase up to 75% of the ESX's shares. Ethiopian Investment Holdings, the state-controlled sovereign wealth fund, along with its subsidiaries, will retain the remaining 25% shareholding.





In February, Prime Minister Abiy Ahmed revealed that the government is considering selling a 10% stake in the state-owned telecoms company, Ethio Telecom, through the upcoming securities exchange





Ethio Telecom maintained a monopoly in the market until 2022 when a consortium led by Kenya's Safaricom won the country's first private telecoms license and began commercial operations, according to Reuters.





While Ethiopia's economy is still facing the legacy of being a command economy for decades, Abiy's push since 2018 towards more private sector involvement has been notable for being more ambitious than previous attempts at liberalization.

Ethiopia is gliding into first world status while we're stuck in thirdy hell, fml

 

[RiceMuncher]

The illusion of progress is something we could learn from these guys. They lie about everything including their gdp. Cba searching but many articles talks about this problem.

Even their intellectuals won't believe it.

 

[AraragiKoyomi]

I think they opening up the Ethiopian market that has made it very hard for foreign investors to invest.

Is this good guys? Does this mean now, that Hormuud can penetrate into Galbeed? I actually want to invest in Galbeed

 

[Periplus]

I can’t wait to buy 100000000 shares in Kitfo inc.

 

[Burqad]

The illusion of progress is something we could learn from these guys. They lie about everything including their gdp. Cba searching but many articles talks about this problem.

View attachment 338428
Even their intellectuals won't believe it.

We are both liars, the “Somali” “government” lies to make Somalia look worse and poorest than it it so they can embezzle aid, the Ethiopian government lies to make Ethiopia look richer than it is so they can embezzle investments

 

[Nin123]

We are both liars, the “Somali” “government” lies to make Somalia look worse and poorest than it it so they can embezzle aid, the Ethiopian government lies to make Ethiopia look richer than it is so they can embezzle investments

Where is your evidence for such claim of Somalia not being poor?

 

[HoodHawiye]

We are both liars, the “Somali” “government” lies to make Somalia look worse and poorest than it it so they can embezzle aid, the Ethiopian government lies to make Ethiopia look richer than it is so they can embezzle investments

Ethiopia is quickly becoming a country at least on par with egypt. Meanwhile FGS Somalia is still a fourth world country

 

[Burqad]

Where is your evidence for such claim of Somalia not being poor?

Ethiopia is quickly becoming a country at least on par with egypt. Meanwhile FGS Somalia is still a fourth world country

count the Xabeshis in our country .

 

[Three Moons]

Where is your evidence for such claim of Somalia not being poor?

• The Electrification rate? I believe Somalia was second only to Kenya when it comes electrification, and the power plants and renewable projects are only now being established, with electrification expected to hit 75% in 2027.

(Today the figure has risen to 61.9%)​

• The Urbanisation rate? Somalia has the highest rate in East Africa out of all the countries with a population above 10 million. Half of Somalia’s population is urban.
  
  
• The Mobile money market that is the same size as that of Kenya? It was $2.7 billion a month in 2018, today it would be probably closer to $5 billion or even $10 billion if we look at the growth of Ghana and Kenya. That equals a mobile money market worth between $60 billion and $96 billion (but we would need a 2024 World Bank update on the mobile money industry for an accurate figure, the FGS is sleeping).
  
  
• The fact that Somalia’s exports will hit $3.5 billion in 2027, while Ethiopia today with its $200 billion economy only exports $10 billion?
  
  
• The fact that Somalia’s imports will hit almost $13 billion in 2027, while a country like Ethiopia with a population of 120 million imports $16 billion worth of goods today?

Sure it’s not good to import four times as much you export, but this stat is to demonstrate the spending power within Somalia because its similar to the import volumes of countries like Kenya, Tanzania, and Ethiopia with populations five, four and three times the size of Somalia and their industrial bases are small, so its not a case where they manufacture everything themselves.

If Somalia did establish a couple of flagship industrial parks and oil refineries with China and Turkey’s support it could bring that figure down to $5 billion, and save almost $10 billion in hard currency through home grown products. The FGS is not doing that, and prefers the current situation.

@Burqad is spot on when he says that the FGS has a conflict of interest when it comes to presenting the true size of Somalia’s economy because it would bite into their chances to embezzle aid.

An extra $20 billion or $30 billion or $40 billion added to the Somali economy after a rebase or factoring in milk production to the GDP would instantly remove Somalia from the LDC category by default and it would no longer be eligible for various aid incentives. This is why you need a patriotic competitive government with a sense of pride that wants to be number one in exports, FDI, construction, ease of business, and global reputation.

 

[HoodHawiye]

• The Electrification rate? I believe Somalia was second only to Kenya when it comes electrification, and the power plants and renewable projects are only now being established, with electrification expected to hit 75% in 2027.

View attachment 338660

(Today the figure has risen to 61.9%)​

• The Urbanisation rate? Somalia has the highest rate in East Africa out of all the countries with a population above 10 million. Half of Somalia’s population is urban.
  
  
• The Mobile money market that is the same size as that of Kenya? It was $2.7 billion a month in 2018, today it would be probably closer to $5 billion or even $10 billion if we look at the growth of Ghana and Kenya. That equals a mobile money market worth between $60 billion and $96 billion (but we would need a 2024 World Bank update on the mobile money industry for an accurate figure, the FGS is sleeping).
  
  
• The fact that Somalia’s exports will hit $3.5 billion in 2027, while Ethiopia today with its $200 billion economy only exports $10 billion?
  
  
• The fact that Somalia’s imports will hit almost $13 billion in 2027, while a country like Ethiopia with a population of 120 million imports $16 billion worth of goods today?

Sure it’s not good to import four times as much you export, but this stat is to demonstrate the spending power within Somalia because its similar to the import volumes of countries like Kenya, Tanzania, and Ethiopia with populations five, four and three times the size of Somalia and their industrial bases are small, so its not a case where they manufacture everything themselves.

If Somalia did establish a couple of flagship industrial parks and oil refineries with China and Turkey’s support it could bring that figure down to $5 billion, and save almost $10 billion in hard currency through home grown products. The FGS is not doing that, and prefers the current situation.

@Burqad is spot on when he says that the FGS has a conflict of interest when it comes to presenting the true size of Somalia’s economy because it would bite into their chances to embezzle aid.

An extra $20 billion or $30 billion or $40 billion added to the Somali economy after a rebase or factoring in milk production to the GDP would instantly remove Somalia from the LDC category by default and it would no longer be eligible for various aid incentives. This is why you need a patriotic competitive government with a sense of pride that wants to be number one in exports, FDI, construction, ease of business, and global reputation.

>ethiopia conveniently excluded
also the electrification rate looks high because it's a percentage of how many sedentary people have access to electricity. It isn't a percentage of the total population with access to electricity. Somalia has more nomads (i.e. people not included in that stat) than literally ever single other country in your graphic. Somalia has an apparently high rate because an enormous percentage of our population don't even have permanent addresses.

 

[Three Moons]

>ethiopia conveniently excluded
also the electrification rate looks high because it's a percentage of how many sedentary people have access to electricity. It isn't a percentage of the total population with access to electricity. Somalia has more nomads (i.e. people not included in that stat) than literally ever single other country in your graphic. Somalia has an apparently high rate because an enormous percentage of our population don't even have permanent addresses.

You clearly have no clue what you’re talking about, electrification rate is a metric that measures total population access to electricity, which includes nomads. The Somali urban electrification rate is 80%. Ethiopia’s electrification rate is only 54.19%, despite having a major dam with an installed capacity of 4000MW, because the majority of their population consists of peasants with no access to the national grid;

Urbanisation rate in East Africa according to the World Bank;

Somalia - 47.32%
Tanzania - 36.6%
Kenya - 29%
Uganda - 26.1%
Ethiopia - 23.2%
Burundi - 14%
Rwanda - 17.7%

 

[Burqad]

>ethiopia conveniently excluded
also the electrification rate looks high because it's a percentage of how many sedentary people have access to electricity. It isn't a percentage of the total population with access to electricity. Somalia has more nomads (i.e. people not included in that stat) than literally ever single other country in your graphic. Somalia has an apparently high rate because an enormous percentage of our population don't even have permanent addresses.

Ethiopia has a shitty electrification rate because highland Ethiopians all live in tiny villages on top of mountains. The only two cities in Ethiopia are Addis and Dire Dawa (which is somali).

Urbanization and urban land use efficiency: Evidence from regional and Addis Ababa satellite cities, Ethiopia

Ethiopia has experienced rapid urbanization over the past three decades. Several cities expanded rapidly and many satellite towns sprung up around the…

www.sciencedirect.com

It has an urbanization rate of 22 percent! Which is insanely bad and calls into question all of the Ethiopian governments claims about GDP growth

 

[HoodHawiye]

You clearly have no clue what you’re talking about, electrification rate is a metric that measures total population access to electricity, which includes nomads. The Somali urban electrification rate is 80%. Ethiopia’s electrification rate is only 54.19%, despite having a major dam with an installed capacity of 4000MW, because the majority of their population consists of peasants with no access to the national grid;

Urbanisation rate in East Africa according to the World Bank;

Somalia - 47.32%
Tanzania - 36.6%
Kenya - 29%
Uganda - 26.1%
Ethiopia - 23.2%
Burundi - 14%
Rwanda - 17.7%

There are settled people that aren't urban. We call them rural. Rural populations are factored into electrification statistics. Nomads are not. You are coping hard and it's funny to watch.

 

[Three Moons]

There are settled people that aren't urban. We call them rural. Rural populations are factored into electrification statistics. Nomads are not. You are coping hard and it's funny to watch.

Listen man, I know your single digit IQ larping ass is struggling to comprehend the data, I and Burqad, posted in this thread, but at-least try to pretend like you understand it, this is just pathetic. The total electrification rate is indeed based on the urban, rural and nomadic rates with regards access to electricity in Somalia, nobody was left out. The fact that Somalia is on course to having a universal 100% electrification rate in 10 to 15 years time with new energy projects and investments must hurt you something fierce.

Cope.

 

[HoodHawiye]

Listen man, I know your single digit IQ larping ass is struggling to comprehend the data, I and Burqad, posted in this thread, but at-least try to pretend like you understand it, this is just pathetic. The total electrification rate is indeed based on the urban, rural and nomadic rates with regards access to electricity in Somalia, nobody was left out. The fact that Somalia is on course to having a universal 100% electrification rate in 10 to 15 years time with new energy projects and investments must hurt you something fierce.

Cope.

Can you post even one piece of evidence that support that the graphic you posted previously uses this definition of electrification you have conveniently made up? You are on the same level of magical thinking that twitter hustlers use to make believe that they're going to wake up tomorrow and find a lambo in the garage. Somalia is a failed state and a complete hell scape. Copers like you are why that will never change.

 

[Three Moons]

Can you post even one piece of evidence that support that the graphic you posted previously uses this definition of electrification you have conveniently made up? You are on the same level of magical thinking that twitter hustlers use to make believe that they're going to wake up tomorrow and find a lambo in the garage. Somalia is a failed state and a complete hell scape. Copers like you are why that will never change.

“Failed state, hell-hole yada yada”, please stop the emotional yapping, nobody cares. Instead, explain the World Bank’s definition of a ‘National Electrification rate” and what it actually means. Your next reply will reveal whether you understand the data or as I suspect are just waffling to save face.

 

[HoodHawiye]

“Failed state, hell-hole yada yada”, please stop the emotional yapping, nobody cares. Instead, explain the World Bank’s definition of a ‘National Electrification rate” and what it actually means. Your next reply will reveal whether you understand the data or as I suspect are just waffling to save face.

>challenged to provide evidence
>ducks the challenge
ok

 

[Zak12]

at least on par with egypt

Not even close. Ethiopia as an economy and country is almost entirely reliant on foreign aid to stay afloat. Just recently they received a massive loan from the IMF as a result of all the bad decisions Abiy has made. Somalia may be fourth world but Ethiopia honestly isn't that far away.

 

[MaliMohamed]

Lot of larper joining recently

 

[Killamenace78]

The illusion of progress is something we could learn from these guys. They lie about everything including their gdp. Cba searching but many articles talks about this problem.

View attachment 338428
Even their intellectuals won't believe it.

They even lie about their Muslim percentage to make the world believe they are a fully Christian nation