Gadaa Bank has officially listed its shares on the Ethiopian Securities Exchange (ESX), becoming the second company to join the exchange’s main board, after Wegagen Bank made its debut.

The listing follows the Ethiopian Capital Market Authority’s (ECMA) approval of the bank’s prospectus on June 17, 2025, marking a key milestone for both the two-year-old bank and the ESX, which is yet to commence active trading.

The two-year-old bank, notable for its large and growing shareholder base of over 28,000 investors, listed 1.23 million ordinary shares at a par value of ETB 1,000 each, valuing the institution at ETB 1.23 billion (approximately USD 9 million). This achievement is especially remarkable given Gadaa Bank’s relatively short operational history, marking it as the first in its peer group to reach such a milestone.

The listing fully complies with Capital Market Proclamation No. 1248/2021 and the Public Offer and Trading of Securities Directive No. 1030/2024, underscoring the bank’s commitment to regulatory standards and transparency. The listing includes existing ordinary shares held by shareholders and reflects Gadaa Bank’s pioneering role as an early adopter of Ethiopia’s nascent capital markets.

A ceremony at the ESX headquarters brought together key stakeholders including government officials, financial experts, and members of the media to witness the occasion.

Speaking at the event, Wolde Bulto, CEO of Gadaa Bank, emphasized the importance of the listing:
“The listing will create liquidity for our shareholders and unlock new opportunities for capital formation. This will allow us to expand our reach and introduce innovative financial products and services that genuinely address the diverse needs of our customers.”

Dr. Hassen Hussien, Chairperson of Gadaa Bank, reaffirmed the bank’s vision:
“As a new player in the banking industry, we are committed to building a strong foundation based on trust and transparency. Being listed on the Ethiopian Securities Exchange reaffirms our dedication to transparency, growth, and public participation in our journey. We believe this will enhance our financial capacity, strengthen corporate governance, and improve our trust and credibility in the market.”

Dr. Tilahun E. Kassahun, CEO of the Ethiopian Securities Exchange (ESX), praised the development:
“Today marks yet another proud moment for Ethiopia’s capital market. Gadaa Bank’s listing demonstrates the growing confidence in our Exchange and the value of public markets in driving inclusive economic growth. We commend Gadaa Bank for its leadership and commitment, and we look forward to supporting more institutions in accessing capital, deepening market participation, and building long-term value for the Ethiopian people.”