Wegagen Capital Investment Bank Becomes Ethiopia’s First Private Investment Bank











Addis Ababa, June 4, 2025 – In a landmark development for Ethiopia’s emerging financial sector, Wegagen Capital Investment Bank S.C. has officially launched operations, becoming the country’s first private investment bank. The announcement was made during a high-profile inauguration event held at the Hilton Hotel in Addis Ababa, attended by key figures from government institutions, regulatory bodies, and the private sector.

The launch marks a critical step in the growth of Ethiopia’s nascent capital market and reflects the increasing momentum around private sector-led financial innovation following the establishment of the Ethiopian Securities Exchange (ESX).

Dr. Tilahun Ismael, CEO of the Ethiopian Capital Market Authority, along with Hanna Tehelku, Director General of the Ethiopian Capital Market Authority, and representatives from the Ministry of Trade and Regional Integration, were among the prominent guests in attendance. Also present were board members from the Ethiopian Securities Exchange and other invited stakeholders.

A New Model for Investment Banking

Dr. Aklilu Wubet, Chairperson of the Board of Directors of Wegagen Capital Investment Bank, underscored the strategic importance of the institution’s launch, emphasizing that the bank was established with a paid-up capital of 385 million birr, funded by visionary institutions and individuals. He noted that the bank received its operating license from the Capital Market Authority on March 21, 2025 (Megabit 12, 2017 EC), and registered as a trading member of the Ethiopian Securities Exchange on May 14, 2025 (Ginbot 6, 2017 EC), thereby securing early mover advantage in Ethiopia’s newly liberalized capital market.

The bank’s Chief Executive Officer, Bruktawit Dawit, stated that Wegagen Capital is designed to be a pioneering force in the investment banking space by offering cutting-edge, customized, and trusted services to public institutions, development enterprises, private companies, and high-net-worth individuals.

Services Tailored to Capital Market Growth

Wegagen Capital Investment Bank will provide a wide range of services including:

Investment advisory for government and corporate clients participating in the capital market

Brokerage services for institutional and retail investors in both primary and secondary securities markets

Underwriting and placement of securities for capital raising

Capital restructuring and acquisition advisory

Mergers and acquisitions (M&A) services

Market-making and deal execution on behalf of clients

The CEO noted that the bank will also support the development of alternative investment solutions, including debt instruments and structured products, in alignment with the regulatory framework laid out by the Capital Market Authority.

Strategic Role in Ethiopia’s Financial Future

Bruktawit emphasized that Wegagen Capital Investment Bank is not a subsidiary of Wegagen Bank but a fully independent entity with its own governance, management structure, and operational strategy. This structural distinction allows it to form partnerships across the financial industry, including with commercial banks and fund managers, to co-create mutually beneficial opportunities.

“Ethiopia’s economic transformation depends on a deep and efficient capital market,” she said. “We are committed to driving that change by channeling capital to productive sectors, supporting investor confidence, and introducing new financial instruments tailored to Ethiopia’s development needs.”

Positioning for the Long Term

As the first mover in the private investment banking space, Wegagen Capital aims to play a catalytic role in accelerating private capital mobilization, enhancing investor participation, and fostering transparency and professionalism within Ethiopia’s financial ecosystem.

The launch of Wegagen Capital Investment Bank represents a foundational shift—from a state-dominated financial landscape toward one shaped by innovation, competition, and private sector dynamism.