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Home Ethiopia

Opinion: Ethiopia should create a strong security system for its upcoming stock market

Metassebia Hailu Zeleke by Metassebia Hailu Zeleke
August 23, 2021
in Africa, Ethiopia, FA, Stock, Trade
Reading Time: 2 mins read
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Ethiopia is in the process of developing its own stock market. However, it is almost inevitable that a strong and reliable stock market requires developing a strong security system along with the establishment of the market platform.

This was implicated even during the public hearing on the draft bill that was convened by the revenue, budget, and finance standing committee of the Ethiopian Parliament some months back. During the hearing process, this issue was raised by stating concerns regarding the chance of having malpractices in brokers and unethical employees that have improper relations with stakeholders and might put at risk the integrity of the established stock market.

Also read: Ethiopia, UAE vow to develop and promote cultural heritages

In order to manage this type of malpractices, there is a need of establishing a strong security system along with the ongoing institutional framework. Especially, having well-trusted employees with strong integrity is critical in an effort to avoid the risk of breaching confidentiality that may leak information and secrets of the trade. Of course, this information might be about the transaction, the stock trades, or anything related to it, and that ultimately spoils the trust of the market.

Conceptually, the stock market is a very sensitive, secretive as well as complex transaction. Accordingly, any leaked information about the market transaction should be safe and keep confidential by anyone who has access to it. To this end, there has to be a tracing mechanism to make transparent business among traders and maximize trust. The market shall provide a security and information technology platform since trade information is a very critical instrument in any stock market and it should be provided equitably to all traders with the same time advantage.

Unless there is no strict controlling and security mechanism, the trading system that highly demands competition would be unfair and it may vanishes confidence. In line with this, it is very critical to create a strong security mechanism for the Ethiopian stock market in order to have a strong and reliable trade platform.

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Tags: cyber securityEthiopiaEthiopia should create a strong security system for it upcoming stock marketEthiopia stock marketEthiopian stock marketFeatureMetassebia Hailu ZelekeOpinionstock tradesTradeэфиопияأثيوبياエチオピア埃塞俄比亚
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Metassebia Hailu Zeleke

Metassebia Hailu Zeleke

Metassebia Hailu Zeleke is a PhD Student in African Studies specializing in Citizenship and Mobility in Africa at Addis Ababa University. He is from Law background and currently operating as Consultant & Attorney-at-Law by serving as a legal counselor to different corporate entities, foreign investors and international law firms. By now, he is Vice President of the Ethiopian Lawyers Association and also serving as Editorial Board Chairman of the peer-reviewed “Ethiopian Bar Review” Journal as well as editorial team chairman of the Ethiopian Lawyers’ voice called temuagach “ተሟጋች” newsletter. He is also serving as Management Board member in different organizations including the Ethiopian Shipping and Logistics Services Enterprise. He is also a part-time instructor at Unity University. Internationally, he is serving as a Research Fellow to the China-Africa Legal Research Center and a Consultant to the China Center for Legal Diplomacy. He has also different international recognition including appointment of “Ambassador for Peace” by the Universal Peace Federation (2011), recipient of a fellowship program at the Law School of Beijing Foreign Studies University (Beijing, 2014), recipient of the China-Africa Lawyers Exchange Program (Beijing, 2014) and recipient of the Young International Lawyers Program by International Bar Association (Tokyo, 2014). He can be reached through metassebiahz@gmail.com or +251-911-636064

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