Ethiopia’s First Private Investment Bank Begins Operations
Wegagen Capital Investment Bank S.C., a subsidiary of Wegagen Bank, has officially launched its operations, marking a historic milestone as Ethiopia’s first private investment bank under the newly established capital market framework. The launch event, held at Hilton Addis Ababa, was attended by key figures, including Dr. Tilahun Ismael, CEO of the Ethiopian Securities Exchange (ESX), and Yasmin Wohabrebbi, State Minister of Trade & Regional Integration and ESX Board Representative.
Capital and Licensing Achievements
Wegagen Capital was established with a paid-up capital of ETB 385 million, raised by visionary institutions and individuals. Dr. Aklilu Wubet, Chairperson of the Board, highlighted the bank’s journey, stating,
“One of the biggest challenges during formation was the scarcity of trained professionals in investment banking. To address this, we invested in capacity building, brought in international expertise, and conducted rigorous profitability analysis.”
The bank received its operational license from the Ethiopian Capital Market Authority (ECMA) on March 21, 2025, and became the first trading member registered with the ESX on May 14, 2025.
Mission and Services
Brutawit Dawit Abdi, CEO of Wegagen Capital, outlined the bank’s vision, saying,
“As Ethiopia’s pioneering private investment bank, Wegagen Capital carries the responsibility to lead with integrity, innovation, and impact.”
The bank offers a wide range of services, including strategic advisory on mergers and acquisitions, capital raising through securities, IPO underwriting, trading, brokerage, and intermediation for government institutions, corporations, and high-net-worth individuals.
Building Ethiopia’s Capital Market Ecosystem
Dr. Tilahun Ismael emphasized the broader significance of the launch, noting,
“Capital formation is everyone’s responsibility. We must demystify the concept of capital markets for ordinary Ethiopians, foster a culture of saving, and build the trust necessary to attract foreign investment.”
Wegagen Capital operates independently from Wegagen Bank, ensuring neutral governance as it supports Ethiopia’s growing financial sector.
