Amhara Bank has surpassed Awash Bank to claim the top position by investing 90.6 million birr on the Ethiopian Securities Exchange (ESX). This major investment has allowed Amhara Bank to acquire a 10 percent share of the exchange, solidifying its position as a major player.
Previously, Awash Bank held the title of largest private sector shareholder on the ESX after investing 70 million birr in February 2024. Amhara Bank's entry to the ESX marks the fifth time a bank has publicly announced its investment, following Hibret Bank, Zemen Bank, Siinqee Bank, and Global Bank.
In another development, Lion Insurance has become the third private insurer to invest in the ESX, following United Insurance and Zemen Insurance. Lion Insurance's 10 million birr investment underscores the growing participation of insurance companies. So far, insurers have collectively invested 60 million birr.
Private sector investors have so far collectively invested 358.2 million birr. In addition, insurance companies have injected 60 million birr. An additional 275 million birr has also been secured from four state-owned enterprises backed by Ethiopia Investment Holdings and FSD Africa at the time when the share was open for public subscription at the end of last year.
