Ethiopia: ECMA Approves Registration of Nearly 9.7 Million Abay Bank Shares

opinion

By Bruck Getachew

The Ethiopian Capital Market Authority (ECMA) has approved the registration of 9.66 million existing shares held by shareholders of Abay Bank, marking another step in the development of Ethiopia's nascent capital market.

Abay Bank said ECMA had approved the registration statement covering 9,657,286 existing shares owned by the bank's shareholders. The approval became effective on May 11, 2026, and was disclosed through a public notice issued by the regulator.

The bank said it had subsequently published a prospectus and related disclosure documents on its official website, in line with regulatory requirements.

The registration allows the shares to be formally recognized under Ethiopia's capital market framework, which was established following the creation of ECMA and the country's broader efforts to develop a securities market.

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The move comes as Ethiopian authorities seek to expand investment opportunities and strengthen transparency in the financial sector through the gradual rollout of the country's capital market infrastructure.

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