Awash Bank Secures Exchange Stakes


Awash Bank Secures Exchange Stakes

In a historic financial development, Awash Bank secured a notable 70 million Br investment in the inaugural securities exchange last week. Awash's significant stake acquisition is the highest among commercial banks and reflects a robust investor appetite for the Ethiopian Securities Exchange (ESX), which is poised to raise a total of 900 million Br.

This follows previous stake acquisitions by Global, Siinqee and Zemen banks, contributing to ESX's objective of achieving a 75pc ownership stake by the private sector for an anticipated launch early next year. As Ethiopia positions itself as one of the few African economies projected for substantial growth, ESX sets ambitious goals, aiming to list up to 100 companies over the next decade.

Under the leadership of inaugural CEO Tilahun E. Kasshun (PhD), ESX has garnered considerable investor interest since the announcement of its capital raise a few months ago. The exchange aims to generate 625 million Br from the private sector, encompassing banks, insurance companies, and microfinance entities. The remaining 275 million Br has already been secured from four state-owned enterprises under Ethiopia’s Investment Holdings and FSD Africa.

[ssba-buttons]

Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...