Awash Bank has cemented its position as the Ethiopian Securities Exchange's (ESX) biggest private sector shareholder following a new 70 million birr investment.
The bank signed an agreement acquiring a 7.7 percent stake in the ESX, surpassing the previous top three private investors - Zemen Bank, Siinqee Bank, and Global Bank.
When the ESX first launched operations, it secured 275 million birr in funding from four state-owned enterprises.
Zemen Bank then purchased a slightly over five percent stake for approximately 47.5 million birr. Siinqee Bank and Global Bank each invested 50 million birr for a similar five percent share.
