Three weeks after receiving its trading membership certificate from the Ethiopian Securities Exchange (ESX) and just over two months after securing its investment banking license Wegagen Capital Investment Bank S.C. announced it was starting operations last night at the Hilton Hotel.
The launch marks pivotal movement in Ethiopia’s embryonic capital markets, as Wegagen Capital starts operation as one of the country’s first licensed investment banks. It is helmed by Brutawit Dawit, a prominent figure in Ethiopia’s banking industry, known for her role in the formation of Wegagen Bank and as the former president of Zemen Bank.
Brutawit congratulated stakeholders and emphasized that Wegagen Capital carries both the honor and responsibility of setting a new standard for investment banking in Ethiopia, rooted in integrity, innovation, and impact. She described the bank’s inception as a response to Ethiopia’s urgent need for specialized capital market services capable of unlocking capital, catalyzing investment, and accelerating national development.
The Bank looks to offer a full suite of investment banking services, including capital raising through securities, underwriting for IPOs, strategic advisory for mergers and acquisitions, corporate restructuring, brokerage and trading services, and securities trading guidance. The firm aims to serve a broad spectrum of clients, government institutions, public enterprises, corporations, and high-net-worth individuals, with a focus on long-term value creation.
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