Awash Capital Investment Bank and Geda Securities Dealer have joined the Ethiopian Securities Exchange as new trading members. This addition brings the total number of trading members to five. As intermediaries, these institutions will facilitate financial flows in the market.
The Ethiopian Securities Exchange has recently welcomed Awash Capital Investment Bank S.C. and Geda Securities Dealer S.C. as new trading members. With this inclusion, the exchange's total trading members now stand at five, up from the previous four.
These institutions received work permits from the Ethiopian Capital Market Authority and fulfilled the required institutional and operational preparations before joining. As full trading members, they possess complete authority to handle shares and bonds within the market. Serving as intermediaries between investors and the exchange, they play a crucial role in streamlining financial transactions.
Tilahun Esmael Kasahun, the exchange's chief executive, described the development as one that broadens market options and signals robust progress in Ethiopia's capital market infrastructure. Awash Capital was founded with an initial capital of 200 million birr from Awash Bank's investment division, while Geda Securities was established under Gada Bank with 80 million birr and operates as a dealer and trading firm.
The Ethiopian Securities Exchange aims to list nine companies by year's end. The registered trading members will provide investors with easier access to these companies and smoother transaction processes. This expansion underscores the growing maturity of the market.