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Major Banks Edge Closer to ESX Main Market Debut


Major Banks Edge Closer to ESX Main Market Debut

The Ethiopian Securities Exchange (ESX) has identified six banks progressing toward listing on its Securities Market targeting nine more companies before the end of the fiscal years. Anbesa Bank, Awash Bank, Abay Bank, and Amhara Bank have advanced in finalising their securities registration with ECMA and preparing their prospectuses, earning ESX’s approval in principle for listing. Meanwhile, Bank of Abyssinia and Dashen Bank have also received ESX’s approval in principle and are next to complete their registration and prospectus publication. The announcement, shared on ESX’s official page, highlights major Security issuers moving toward Main Market debut. Currently, the Main Market features a limited number of listings, including Wegagen Bank, Gadaa Bank, Habesha Breweries, and Ethio telecom through IPO offerings.

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Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...


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Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...


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ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...