Radar | Sep 23,2023
Jul 28 , 2026
The Bank of Abyssinia (BoA), one of the country's oldest private banks, has become the fifth bank to join the Ethiopian Securities Exchange (ESX), a further step in the expansion of the emerging capital market.
Abyssinia Bank entered the secondary market today, July 28, 2026, at a bell-ringing ceremony held at the ESX headquarters on Ras Abebe Aregay Street, near Commerce College. The listing places one of the earliest private financial institutions among companies seeking a regulated trading platform meant to broaden ownership, improve transparency and deepen investment opportunities. The Bank registered15 million existing ordinary shares for listing and offered 3.125 million new ordinary shares through a rights issue at 1,600 Br a share.
No less than 2,594 shares traded today at an average price of 2,000 Br, while close to 1,000 shares were traded for 3,000 Br. The registration of the rights offer brought the total approved shares introduced to the market to 17,481,120. The listing lets existing shareholders trade their holdings on a regulated venue and raises fresh capital from the new shares on offer.
Abyssinia became the fifth bank registered on the ESX and the sixth entity to list after Ethio telecom. According to its President, Bekalu Zeleke, who attended the bell-ringing, the registration marked a milestone in the Bank's history. The Bank of Abyssinia was incorporated in February 1996, with a 17.8 million Br paid-up capital raised from 131 founding shareholders. "The registration opened a new chapter in the history of our bank," he said.
Tilahun Esmael (PhD), chief executive officer (CEO) of the ESX, welcomed the entry and said the listing showed growing confidence in the fledging capital market. "Every new listing strengthens the foundation of Ethiopia's capital market," he said. "Bank of Abyssinia's decision to list reflects confidence in the country's market institutions and demonstrates how established Ethiopian companies are embracing higher standards of governance, transparency and investor engagement."
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