The Ethiopian Securities Exchange (ESX) is aiming to list nine companies within this year of operation, according to its CEO, who emphasized that priority sectors include banking and financial institutions.
In the event that some firms are not yet ready for full exchange listing, the ESX plans to utilize the Over-the-Counter (OTC) market as an alternative mechanism to kickstart capital market participation.
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Dr. Tilahun, a key figure in the initiative, noted Ethiopia’s well-known “follower phenomenon” suggesting that once a major company takes the lead, others are likely to follow quickly. That momentum may already be forming.
Currently, three companies are officially on the exchange: Ethio Telecom, Gadaa Bank, and Wegagen Bank, marking foundational listings for the nascent market.
Meanwhile, the IPO Clinic, jointly launched by the Ethiopian Capital Market Authority (ECMA) and the International Finance Corporation (IFC), has opened its doors to applicants. The program is designed to prepare companies for listing through technical assistance, financial readiness, and governance upgrades — effectively building the pipeline for ESX’s upcoming flotation targets.
With regulatory infrastructure in place and early movers stepping forward, Ethiopia’s capital market is now shifting from planning to execution.
