The Ethiopian Securities Exchange (ESX) has officially welcomed Ethio Fidelity Securities S.C. as its latest licensed trading member, marking another pivotal milestone in Ethiopia’s capital market development.

At a formal ceremony attended by H.E. Hana Tehelku, Director General of the Ethiopian Capital Market Authority (ECMA), Ethio Fidelity was awarded its trading membership certificate. The firm now becomes one of the select intermediaries authorized to operate on Ethiopia’s first organized securities exchange, reaffirming momentum in the country’s financial sector transformation.

Who is Ethio Fidelity?

Ethio Fidelity Securities S.C. is a private stock dealing firm licensed by ECMA in early 2025. Unlike investment banks, which may offer advisory and underwriting services, Ethio Fidelity is focused purely on brokerage and market-making activities—a vital role in ensuring price discovery, continuous liquidity, and active trading once equities are listed.

With a commitment to investor education and regional outreach, Ethio Fidelity is expected to bridge retail investors with emerging capital opportunities.

How This Builds on Recent Progress

Ethio Fidelity joins a short but growing list of licensed ESX trading members. The firm follows two earlier trailblazers:

  • Wegagen Capital Investment Bank S.C.
    • First Trading Member of ESX (May 14, 2025)
    • Executed Ethiopia’s first inter-broker trades of Treasury Bills and listed securities during the live launch of the exchange in July 2025
    • Offers full investment banking services, including equity and debt capital raising
  • CBE Capital Investment Bank S.C.
    • Second Trading Member (June 4, 2025)
    • A state-private venture (70% owned by Commercial Bank of Ethiopia), adding a powerful institutional base to the market
    • Focused on building accessible brokerage and financial advisory services across Ethiopia

Ethiopia’s Capital Market Journey: A Quick Recap

  • 2019–2022: Capital market legal foundations laid under the Homegrown Economic Reform Agenda, with ECMA established in 2021 under Proclamation No. 1248/2021.
  • October 2023: Ethiopian Securities Exchange (ESX) founded as a public–private partnership with 25% public and 75% private ownership.
  • January 10, 2025: Official ESX inauguration by Prime Minister Abiy Ahmed.
  • July 11, 2025: First trading day at ESX with Treasury Bills transacted via Wegagen and CBE Capital.