Yodit Kassa named CEO of Ethiopian Securities Exchange as market expansion accelerates

Ethiopian business executive Yodit Kassa has been appointed chief executive officer of the Ethiopian Securities Exchange (ESX), succeeding founding CEO Tilahun Esmael Kassahun following his resignation, the exchange’s board of directors announced.

Kassa takes over at a pivotal time for Ethiopia’s young capital market after spending years helping build the exchange from the ground up. Her appointment signals continuity as ESX works to attract more listed companies, broaden investment opportunities and deepen participation in the country’s financial markets.

Tilahun built ESX from concept to trading

Tilahun leaves after leading ESX from its planning stages to the launch of Ethiopia’s first organized securities exchange. During his tenure, he established the exchange’s governance, operating systems and market infrastructure, creating a platform that connects companies seeking capital with investors.

He also led efforts to bring together government agencies, domestic and international investors, regulators, development partners and shareholders. Under his leadership, ESX completed a landmark capital raise, assembled its leadership team and put in place the technology and operational systems needed to begin trading.

Those efforts laid the foundation for an exchange that is steadily expanding its role in Ethiopia’s financial system. Beyond building the institution itself, Tilahun focused on developing local talent and strengthening the organization’s leadership, leaving ESX with experienced teams prepared to support its next stage of growth.

Kassa leads ESX’s next growth phase

Kassa has been involved with ESX since the project’s early development phase. She previously served as chief business officer before becoming chief operating officer, where she helped oversee the exchange’s operations, business development and long-term strategy. 

As chief executive officer, she will oversee the exchange’s next phase of expansion, with priorities that include attracting more companies to list, increasing investor participation, introducing additional investment products, strengthening market infrastructure and supporting the continued development of Ethiopia’s capital markets.

ESX unlocks investor financing opportunities

The Ethiopian Securities Exchange (ESX) was established to provide companies with access to long-term financing while creating new investment opportunities for local and international investors. The creation of a securities exchange had been under discussion for several years.

The Ethiopian government accelerated those reforms in 2019 and, in 2023, unveiled plans to establish the country’s first stock exchange. On April 7, 2024, the Nigerian Exchange (NGX) Group announced an investment in the ESX, becoming one of its founding institutional investors. 

ESX officially opened on Jan. 10, 2025, with Wegagen Bank becoming the first company to list on the exchange. At the launch, founding CEO Tilahun Kassahun said he expected about 90 companies to join the market over the following decade.