Sidama Bank S.C. has officially joined the Ethiopian Securities Exchange (ESX) Main Market, becoming one of the latest institutions to list shares on Ethiopia’s developing securities market.
The listing was marked by a bell ringing ceremony at the ESX trading floor, attended by representatives of the Ethiopian Capital Market Authority (ECMA), National Bank of Ethiopia, Sidama Bank’s board and executive management, investors, market participants, development partners and other stakeholders.
According to ESX, the listing followed Sidama Bank’s completion of applicable regulatory and listing requirements set by ECMA and the Exchange. The bank will trade on the ESX Main Market under the symbol SIDAX.
ESX said the listing represents a new stage in Sidama Bank’s institutional development, placing the bank within a regulated public market framework that requires greater transparency, corporate governance and accountability to shareholders.
The listing also provides investors with an opportunity to participate in the bank’s long-term growth through Ethiopia’s organized securities market.
Speaking at the ceremony, ESX Chief Executive Officer Yodit Kassa Waka described Sidama Bank’s transition from a microfinance institution to a commercial bank and now a listed company as an example of institutional growth.
She said the bank’s decision to list also reflects expanding issuer participation in Ethiopia’s securities market and highlighted transparency, accountability and long-term value creation as important elements of public market participation.
ESX said the addition of Sidama Bank broadens the range of investment opportunities available through the Exchange and contributes to efforts to deepen and diversify Ethiopia’s capital market.
As more companies enter the market, the Exchange is expected to play a growing role in mobilizing long term capital, supporting private sector financing and expanding investment opportunities.
Sidama Bank joins a growing number of issuers participating in Ethiopia’s newly established organized securities market.
Source (including image): ESX
