The first trading member has been appointed at the Ethiopian Securities Exchange (ESX). Wegagen Capital Investment Bank S.C received its trading membership certificate on 14 May.

On 21 March, the Ethiopian Capital Market Authority (ECMA) had licensed Wegagen as an investment bank along with CBE Capital SC as a second investment bank and Ethio-Fidelity Securities SC as a securities dealer. 

This milestone marks a major step forward in the operationalization of Ethiopia’s capital market and reflects growing momentum in building a modern, inclusive financial system.

Dr. Tilahun Esmael Kassahun, CEO of ESX said in an announcement: “This milestone signals that Ethiopia’s capital market is entering a new phase—where access, participation, and institutional readiness are coming together to deliver on the promise of economic transformation.” 

As the first licensed trading member, Wegagen Capital will have the ability to facilitate the buying and selling of securities on behalf of clients and act as a vital link between issuers and investors.

Parent company Wegagen Bank SC is the first and only listed company so far on the ESX, which was launched by Prime Minister Dr Abiy Ahmed in January. However, other listings are in the pipeline and more trading members are expected soon.

Trading has not yet started on the ESX but all parties are busy preparing and it could be imminent.

(Photo: Ethiopian Securities Exchange)