UPDATE 7 July: On 4 July Wegagen Capital also claimed credit for the first trade. Perhaps this is unsurprising, since there are so far only two ESX trading members, so both will be involved. The announcements have not included information such as the share price or number of shares involved. It will be interesting to see the second, third and 100th and 1,000th trades, including trades by retail shareholders of the two listed banks. It will also be great to get information on the buy and sell orders are stacking up and at what prices.
Original post 26 June: “Historic: CBE Capital Investment Bank successfully executed the first inter-broker stock trade on the new Ethiopian Securities Exchange (ESX), today, 26 June 2025. Trading is now Live!” This is a post on LinkedIn from earlier today by Zemedeneh Negatu, CEO of CBE Capital Investment Bank.
“Thank you all who had worked very hard for several months to make this first historic trade happen. For more information about our services including opening a brokerage account, please visit us at our head office located at the CBE headquarters building 1st floor or call our VP brokerage services at +251 92 541 7854.”
We wrote about CBE Capital on 5 June 2025. Wegagen Capital Investment Bank S.C received its trading membership certificate on 14 May, see our story here.
Gadaa Bank is second listing
The Ethiopian Securities Exchange (ESX) achieved its second listing on 23 June. Gadaa Bank S.C. has officially become the second bank to be listed on the exchange, which was launched in January 2025.
According to the ESX announcement: “The move marks a pivotal moment in the country’s financial sector, signaling increased confidence in public capital markets and expanded access to investment opportunities.
The the Ethiopian Capital Market Authority (ECMA) gave its formal approval of the Bank’s prospectus on 17 June 2025, which cleared the way for the listing.
Gadaa Bank was founded in 2021 with 28,000 shareholders and got its operating licence in April 2022, according to its website. It is the first in its peer group— banks with a relatively short operational history – to reach the listing milestone.
Tilahun E. Kassahun, CEO of ESX, commented: “Gadaa Bank’s listing demonstrates the growing trust in our Exchange and highlights the transformative role of public markets in inclusive economic development.”
Wolde Bulto, CEO of Gadaa Bank, said during a celebratory event at the ESX trading floor conference room, that the listing would unlock capital formation potential and introduce more tailored financial services for customers. Hassen Hussien, the Bank’s Chairperson, affirmed the institution’s dedication to trust and corporate governance as central pillars of its growth strategy.
According to the press release, “as a newly listed institution, Gadaa Bank looks ahead with a focus on innovation, regulatory compliance, and value creation for both shareholders and the Ethiopian public. This milestone further cements ESX’s role in shaping a dynamic and transparent capital market in Ethiopia.”
Hana Tehelku, Director General of the Ethiopian Capital Markets Authority, Tilahun Esmael Kassahun, CEO of the ESX, and Zemedeneh Negatu, CEO of CBE Capital Investment Bank, at the ceremony to admit CBE Capital as a trading member. Credit: Tom Minney, African Capital Markets News.
