Ethiopia Opens Stock Exchange With One Listing (Correct)

Ethiopia opened its stock exchange — part of a plan to lure investors to an economy recovering from a civil war — without any brokers and no initial public offering debuts.

The government listed Wegagen Bank on the exchange on Friday but didn’t make any mention of Ethio Telecom’s 30 billion birr ($238 million) initial public offering.

The much-delayed opening of the bourse highlights the struggles of frontier markets in Africa as investors balk at political instability, lack of financial infrastructure and the small size of the stock markets. Take neighboring Kenya. Its bourse has been in operation for six ...