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Wegagen Capital Investment Bank Begins Operations as Ethiopia’s First Private Investment Bank

Wegagen Capital Investment Bank S.A. has officially launched its operations, becoming the first private investment bank to operate in Ethiopia’s newly established capital market. This milestone marks a significant step forward in the country’s financial sector transformation.

At the inauguration ceremony, Dr. Aklilu Esseb, Chairman of the Board of Directors, stated that the bank was founded with a paid-up capital of 385 million birr by forward-thinking institutions and individuals who recognize the critical role of capital markets in driving economic growth.

Dr. Aklilu highlighted that Wegagen Capital Investment Bank was the first institution to receive a business license from the Ethiopian Capital Market Authority on March 19, 2025, and became a registered trading member of the Ethiopian Securities Market on May 13, 2025.

CEO Brutawit Dawit emphasized that the investment bank aims to set industry benchmarks through innovation and integrity. She explained that Wegagen Capital Investment Bank was established in response to the growing demand for professional investment banking services following the launch of Ethiopia's capital market.

The bank will offer a full suite of investment banking services, including:

  • Securities trading and advisory
  • Connecting securities issuers with investors
  • Acting as a principal securities broker
  • Facilitating trades by proxy
  • Supporting mergers, acquisitions, and capital restructuring

Wegagen Capital Investment Bank is committed to serving government bodies, development partners, commercial enterprises, and private investors participating in the Ethiopian capital market.

It’s important to note that Wegagen Capital Investment Bank S.A. is entirely independent from Wegagen Bank in its structure, governance, and operations. This independence positions it as a neutral partner for collaboration with other banks and institutions, fostering mutual growth.

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