Ethiopia Securities Exchange (ESX) is set to commence full trading operations next week, following the successful completion of pilot transactions conducted two weeks ago, according to Capital Ethiopia.

The exchange, inaugurated in January 2025, has already attracted significant capital ahead of its launch. A public-private capital mobilization campaign, launched in November 2023, raised 1.5 billion birr, an oversubscription of 631% over its initial target. The funding came from 48 institutional investors across the financial, insurance, telecom, and public sectors, drawing interest from Ethiopia, Kenya, and the United Kingdom.

Under its unique public-private ownership structure, the government, represented by Ethiopian Investment Holdings, holds a 25% equity share. The remaining 75% is controlled by private investors, both domestic and international. International backers include FSD Africa, the Trade and Development Bank Group (TDB), and the NGX Group of Nigeria. Locally, the ESX is supported by 16 private banks, 12 insurance firms, 17 institutional investors, and major state-owned enterprises such as Ethio Telecom and the Commercial Bank of Ethiopia.

Two companies, Gadaa Bank S.C. and Wegagen Capital Investment Bank S.C., have already joined the platform to provide their services. Gadaa is the second bank to secure a spot on the exchange after Wegagen, which received the first business membership certificate earlier this year. More firms are expected to follow in the coming months.

CBE Capital S.C. is also one of Ethiopia’s first licensed investment banks, following approval from the Ethiopian Capital Market Authority (ECMA). On June 4, 2025, it received its official Trading Membership Certificate from the ESX.

Built on a modern electronic infrastructure, the ESX includes an integrated central securities depository to ensure efficient trading, clearing, and settlement. It also features a new interbank trading platform launched in late 2024, designed to improve liquidity and address longstanding inefficiencies in Ethiopia’s credit system. Since its pilot phase, it has facilitated transactions worth more than 135 billion birr (about $1.1 billion).