Wegagen Capital Investment Bank (WCHB), Ethiopia’s first investment bank, reported a net loss of 10.19 million birr in its inaugural fiscal year ending June 30, 2025, as it invested heavily in building operational capacity. 

The bank generated total income of 7.9 million birr against 22.4 million birr in expenses, while liabilities were confirmed at 12.9 million birr by an independent audit.

WCHB, which began operations three months ago, reported total assets of 387.8 million birr and equity of 374.8 million birr. CEO Brutawit Dawit told shareholders meeting at Kuriftu Resorts in Burayu town that the existing capital is insufficient to underwrite even a single company. 

She urged an accelerated increase of paid-up capital to one billion birr within a year, ahead of the three-year plan, to maintain competitiveness. Longer-term, WCHB aims to raise up to six billion birr to fund custodial services, asset management and technology infrastructure.

In its first two months, the bank engaged 15 clients across banking, insurance, microfinance, real estate and payments, signing six advisory and brokerage contracts and opening 37 investment accounts. 

Board Chairperson Aklilu Wubet highlighted the growth potential of Ethiopia’s capital market, projected to nearly double to 959 billion birr by 2028, with ECMA and ESX introducing mobile trading platforms to broaden market access. “Our focus remains on building a strong foundation for sustainable growth rather than chasing immediate returns,” he said, emphasising WCHB’s strategic role in sustainable finance and market development.