Bank of Abyssinia has become the fifth lender to list on the Ethiopian Securities Exchange (ESX), adding 17.48 million shares to a market that remains in its infancy but is central to the country’s effort to modernise its financial system. The bank’s admission to trading on Tuesday brings the total number of listed companies on the ESX to six, with banks accounting for all but one of them. The dominance of lenders reflects the pivotal role the banking industry is playing in the gradual development of a capital market in an economy where companies have long relied almost exclusively on bank financing.
The exchange, which opened in January 2025 after more than five decades without a formal stock market, is one of the more visible reforms accompanying Ethiopia’s gradual liberalisation of its financial sector. Policymakers hope it will diversify corporate funding sources, strengthen governance through stricter disclosure standards and broaden investment opportunities for domestic and, eventually, foreign investors.
Speaking at the listing ceremony, Bank of Abyssinia chief executive Bekalu Zeleke described the admission as a new chapter in the bank’s history, saying it would improve transparency, deepen shareholder participation and support the creation of long-term value. The ceremony was attended by Central Bank Governor Eyob Tekalign (PhD), Tilahun Esmael, chief executive of the Ethiopian Securities Exchange, Bank of Abyssinia board chairman Mekonnen Manyazewal, shareholders, senior executives, regulators and representatives of the media.
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