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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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Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...