ESX Sees First Broker-to-Broker Trade

Jun 29 , 2025

In a landmark transaction, CBE Capital, acting on behalf of a client with a brokerage account, purchased shares from Wegagen Capital, representing Wegagen Bank. The deal marks the first-ever inter-broker trade executed on the Ethiopian Securities Exchange (ESX). Zemedeneh Negatu of CBE Capital S.C. confirmed to Fortune that the trade was finalised last Wednesday, June 26. He expressed enthusiasm about the first of its kind transaction, noting that CBE Capital is the first company to complete a trade on the ESX. He also acknowledged Wegagen Capital’s role as the first investment bank to facilitate share sales for clients looking to offload their holdings. CBE Capital Investment Bank (CBE-CIB), a new player in the capital market, began operations with an initial capital of 100 million Br. That amount is expected to double to 200 million Br once the firm secures a custodial license. The bank is majority-owned by the state-run Commercial Bank of Ethiopia (CBE), with a 30pc stake held by Dalol Capital, chaired by Zemedeneh Negatu. Brokerage fees at CBE-CIB are set at 1.6pc, positioning the firm as a competitive option for investors entering the ESX. Wegagen Capital, a subsidiary of Wegagen Bank, serves as a licensed brokerage firm on the ESX. It enables customers to buy and sell shares while offering essential brokerage services, including order execution and transaction support for investors.