Bank of Abyssinia Joins Ethiopia's Young Bourse as Fifth Listed Bank

July 29, 2026
By Mintesinot Nigussie

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.

The listing does not involve the issuance of new equity or fresh capital raising. Instead, the bank has admitted 17,481,120 existing shares to the exchange, enabling them to trade on the regulated secondary market. The move continues a steady pipeline of bank listings since the ESX began operations. Wegagen Bank was the first financial institution to join the exchange, followed by Gadaa Bank, Awash Bank and Abay Bank. Ethio Telecom remains the only non-bank company listed so far, illustrating both the early stage of Ethiopia's equity market and the cautious pace at which corporates are entering it.

Eyob Tekalign (PhD), governor of the National Bank of Ethiopia, congratulated the bank's management and board, saying their collaboration with market institutions had helped bring the listing to completion. Hana Tehelku, director general of the Ethiopian Capital Market Authority, said the market was still in its formative years and urged listed companies to help improve public understanding of capital markets as participation expands.

Source: FSX Business News