Wegagen Capital Investment Bank S.C., a subsidiary of Wegagen Bank, officially launched operations, becoming the country’s first private investment bank under the newly established capital market framework.

The inaugural ceremony, held at Hilton Addis Ababa, drew a distinguished audience, including Dr. Tilahun Ismael, CEO of the Ethiopian Securities Exchange (ESX), as well as executives from financial institutions, regulators, and invited guests.

Speaking at the event, Dr. Aklilu Wubet, Chairperson of the Board of Wegagen Capital, emphasized that the bank was formed with a paid-up capital of ETB 385 million, contributed by visionary institutions and individuals who recognize the strategic importance of investment banking in driving national economic growth.

Dr. Aklilu noted that Wegagen Capital is the first private investment bank to be granted an operational license by the Ethiopian Capital Market Authority (ECMA), issued on March 21, 2025. The bank was also the first trading member registered with the Ethiopian Securities Exchange (ESX) on May 14, 2025.

“One of the biggest challenges during formation,” Dr. Aklilu added, “was the scarcity of trained professionals in investment banking. To address this, we invested in capacity building, brought in international expertise, and conducted rigorous profitability analysis—all made possible with strong backing from NBE, ECMA, and ESX.”

Brutawit Dawit Abdi, CEO of Wegagen Capital, highlighted the bank’s mission to set a new benchmark in the financial industry. “As Ethiopia’s pioneering private investment bank, Wegagen Capital carries the responsibility to lead with integrity, innovation, and impact,” she said. “Our formation stems from the pressing need to support capital market growth and fuel national development.”

She outlined the bank’s offerings, which include a full suite of investment banking services tailored to government institutions, public enterprises, corporations, and high-net-worth individuals. Services range from strategic advisory on mergers and acquisitions to capital raising through securities, IPO underwriting, trading and brokerage services, and intermediation between issuers and investors.

Dr. Tilahun Ismael reaffirmed the importance of institutions like Wegagen Capital in building Ethiopia’s capital market ecosystem. “Capital formation is everyone’s responsibility,” he stressed. “We must demystify the concept of capital markets for ordinary Ethiopians, foster a culture of saving, and build the trust necessary to attract foreign investment.”

Wegagen Capital operates independently from Wegagen Bank with its own corporate governance, management, and operational structure. This separation allows the firm to serve as a neutral investment partner for banks and institutions seeking capital market solutions.