Ethiopia’s emerging capital market continues to gain momentum as Gadaa Securities Dealer S.C. and Awash Investment Bank have secured full trading membership at the Ethiopian Securities Exchange (ESX), expanding the roster of licensed market participants.
ESX Chief Executive Officer Tilahun Esmael (PhD) described the current phase of the exchange as an “impeccable experience,” highlighting steady progress on both the supply and demand sides of the market. He noted that the number of trading members has been increasing alongside growth in listed companies, signaling rising confidence in the new exchange.
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According to Tilahun, ESX is targeting nine listed companies by the end of the year. The exchange has already received applications from five companies, with additional listings expected in the coming months.
He further emphasized that responsibility for market education should not rest solely with the exchange, calling on all institutions operating under the ESX framework to actively engage in building public awareness and financial literacy.
Andualem Hailu (PhD), Chief Executive Officer of Awash Investment Bank, echoed this view, pledging that Awash will play an active role in knowledge sharing and market development.
Awash Investment Bank operates through Awash Capital, its newly incorporated investment banking arm, which launched with an initial capital of 200 million birr. Licensed by the Ethiopian Capital Market Authority (ECMA) in November 2025, Awash Capital became the fourth investment bank to enter Ethiopia’s nascent capital market.
Meanwhile, Gadaa Securities Dealer S.C., a subsidiary of Gadaa Bank, received its licence on December 24, 2025, with an initial capital of 80 million birr, further strengthening the broker-dealer segment of the market.
The addition of new trading members is seen as a critical step in deepening liquidity, enhancing competition, and supporting the long-term development of Ethiopia’s capital market ecosystem.
Source: Addis Fortune
