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Authority Approves Dashen Bank’s Shares Registration

Dec 25 , 2025

The Ethiopian Capital Market Authority (ECMA) has approved Dashen Bank’s share registration, setting a precedent in the nascent capital market.

In a notice issued on December 24, 2025, the regulator endorsed the registration of over 14.3 million existing ordinary shares and an additional 2.2 million new shares, a prerequisite for the Bank’s upcoming rights issue and eventual listing on the Ethiopian Securities Exchange (ESX).

With a paid-up capital exceeding 19 billion Br, Dashen Bank is among the five largest private banks, trailing only Awash and the Bank of Abyssinia in capitalisation.

The regulatory milestone marks the first equity transaction processed under the evolving capital markets infrastructure. According to the Authority, run by its director general Hana Tehelku, the registration does not yet constitute a public offering; rather, it notifies the public of Dashen Bank’s intent, paving the way for a formal rights issue.

Investors are advised to consult a licensed broker and review the full prospectus before taking any positions.

The registration comes in the wake of a directive requiring all securities offered to the public to undergo ECMA registration. Dashen Bank’s share registration places it at the forefront of capital market compliance and positions it as a likely early entrant when the ESX launches in early 2026.

Dashen Bank, managed by Asfaw Alemu, announced a rights offer worth 6.4 billion Br on December 25, a day after securing the ECMA’s green light. The new shares are offered primarily to existing shareholders, with any unsubscribed shares available to the broader public. The share subscription window runs until February 11, 2026.

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