BusinessNews

Global Bank Buys Stake in Ethiopian Securities Exchange

ADDIS ABABA – Global Bank S.C. formerly known as Debub Global Bank, has joined the Ethiopian Securities Exchange (ESX) as a financial investor.

The ESX, the first and only organized and regulated securities exchange, plans to start operating in the final quarter of the current Ethiopian fiscal year.

Ahead of the launch, the Exchange is pushing its fundraising drive to raise capital and has now secured a 50 million investment in its equity from Global Bank.

“We want to thank the Global Bank Management team and Board of Directors for their continuous support,” the ESX said, announcing the agreement on Tuesday.

Global is the third private financial institution to make an equity investment in the Exchange, after Zemen and Siinqee Banks.

Global Bank says the 50 million Birr investment in the Exchange reaffirms its commitment to Ethiopia’s economic development.

“This strategic equity investment reflects the bank’s growth and prosperity, underscoring its belief in the crucial role of the capital market,” it says.

The ESX aims to facilitate access to capital, support effective allocation, and drive economic growth through a well-regulated market ecosystem.

The Exchange’s 75 percent share is currently on offer for private investors. The government holds the remaining 25 percent share through the Ethiopian Investment Holdings (EIH) and four of its subsidiaries.