The Ethiopian Capital Market Authority (ECMA) said it has approved the registration of securities for Zemen Bank S.C., marking another step in the country’s evolving capital market framework.
The regulator confirmed that, as of April 21, it has registered 15 million shares already held by the bank’s existing shareholders. The move is in line with the Public Offer and Trading of Securities Directive No. 1030/2024, which requires all non-exempt securities offered or sold to the public to be formally registered. It also mandates issuers to register previously issued shares held by investors before the directive came into effect.
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ECMA emphasized that the notice is purely administrative and does not constitute an endorsement of the securities, nor an offer to sell or solicitation to buy shares.
The registration reflects ongoing efforts to formalize Ethiopia’s nascent capital market infrastructure and bring existing financial institutions into compliance with new regulatory standards.
