Ethio telecom has officially opened share trading access for investors, marking a major step in Ethiopia’s ongoing capital market reforms and wider economic transformation programme.
The development forms part of the government’s Homegrown Economic Reform agenda, which aims to support sustainable growth, strengthen the national economy, and give citizens ownership opportunities in state-owned enterprises.
As part of these reforms, Ethiopia established a national capital market system to allow citizens to buy and trade shares in major public companies.
Ethio telecom, which has operated in Ethiopia for 132 years, recently completed its transition from a public enterprise into a share company under the country’s Commercial Code and regulations issued by the Ethiopian Capital Market Authority.
The company previously announced the sale of 10.7 million ordinary shares to 47,377 Ethiopian citizens through the public offering of a 10% ownership stake.
Over recent months, Ethio telecom said it carried out extensive verification work to confirm shareholder ownership. This included reviewing Know Your Customer (KYC) records and contacting shareholders to complete missing information.
The company also secured approval for the share allocation process and completed the registration of shares with the Central Securities Depository (CSD), helping prepare investors for participation in the Ethiopian Securities Exchange.
According to the company, 45,366 shareholders, representing 95.8% of investors, have successfully completed the ownership verification and digitisation process. These verified shareholders collectively hold 10.1 million shares valued at around 3.04 billion Ethiopian birr.
Ethio telecom confirmed that these shareholders can now officially begin buying, selling, and transferring shares on the Ethiopian Securities Exchange in line with national regulations.
To trade shares, investors must first open trading accounts through licensed investment banks or brokerage firms approved by the Ethiopian Capital Market Authority.
The company also stated that shareholders who completed the digitisation process will have their ownership rights fully recognised and protected from the start of the current budget year.
Looking ahead, Ethio telecom said it plans to release its financial audit report and annual performance summary to shareholders and customers. The company also announced plans to hold its first Annual General Meeting (AGM) during the next budget year, where dividend payments and other strategic decisions will be discussed.
Meanwhile, Ethio telecom called on 1,646 shareholders with incomplete national identification information to complete their verification process as soon as possible.
The company also disclosed that 248 foreign nationals who purchased 105,000 shares were found to be ineligible under the current rules governing share purchases. Their payments will be verified and refunded.
Shareholders can monitor market activity and track their holdings through the Investor Relations Portal available on the company’s official website. Support services are also available through the company’s customer care channels and investor relations office.
Ethio telecom described the opening of secondary market trading as a historic milestone for Ethiopia’s financial system and digital economy, saying it creates new opportunities for citizens to participate directly in wealth creation and national economic growth.
