Wegagen Bank has made history by becoming the first company to list its shares on the Ethiopian Stock Exchange (ESX). The announcement was made during the official launch ceremony of the stock exchange, held at the Science Museum in Addis Ababa in the presence of Prime Minister Abiy Ahmed (PhD) and other high-ranking government officials.
By fulfilling the necessary requirements for listing, Wegagen Bank has taken a significant step towards modernizing its operations and embracing the opportunities presented by the newly established capital market. The listing enables the bank to raise additional capital through a technology-based platform, providing shareholders with accurate market pricing, access to vital information, and secure share trading options.
According to the bank, this milestone is the result of strategic efforts to align with recent policy changes in Ethiopia’s financial sector. Wegagen Bank has worked with international consultants to assess its options in the capital market and has invested in capacity-building initiatives, including training programs and experience-sharing sessions for its board, management, and employees.
The bank emphasized its commitment to fulfilling market obligations and contributing to the growth of Ethiopia’s capital market. It also expressed pride in its pioneering role and its aim to continue offering new opportunities for investors as the country’s financial landscape evolves.
The Ethiopian Securities Exchange, launched today January 10,2025, marks a new era for the nation’s financial sector by providing a platform for companies to raise capital, trade shares, and promote transparency in the market. Wegagen Bank’s listing is seen as a key step toward realizing the potential of the country’s fledgling capital market.
