ZamZam Bank S.C. has become the first full-fledged interest-free bank in Ethiopia to receive share registration approval from the Ethiopian Capital Market Authority (ECMA), marking a significant milestone for both the bank and the country’s emerging capital market.
According to the bank, ECMA has officially approved its prospectus, covering the registration of its existing 5 million ordinary shares valued at 5 billion birr. The approved prospectus also includes plans to raise the bank’s capital through the issuance of an additional 1 million shares worth 1 billion birr, to be executed through dividend capitalization and a preferred rights subscription.
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The approval was granted in line with the Public Offer and Trading of Securities Directive No. 1030/2024, which requires the registration of securities intended for public offering and trading. The registration is expected to facilitate a transparent and regulated share transaction process while supporting the bank’s capital expansion plans.
ZamZam Bank stated that the achievement also makes it the first full-fledged interest-free bank in Central, Eastern, and Southern Africa to successfully complete share registration with a capital market regulator.
To commemorate the milestone, ZamZam Bank and its transaction advisor, Wegagen Investment Bank, held a joint press conference on July 3, 2026, at Aya Hotel in Addis Ababa.
Established five years ago as Ethiopia’s first full-fledged interest-free bank, ZamZam Bank described the approval as a major step toward strengthening its capital base and expanding access to Sharia-compliant financial services within Ethiopia’s developing capital market.
