The Cooperative Bank of Oromia (CBO) disclosed an investment of 60 million birr in the Ethiopian Securities Exchange (ESX). This brings the total publicly announced commitments from Ethiopian banks to the ESX to 420 million birr.
CBO becomes the sixth bank to publicly announce an investment, following Amhara Bank, Hibret Bank, Zemen Bank, Siinqee Bank, and Global Bank. Amhara Bank invested 90.6 million birr to acquire a 10 percent stake in the ESX.
Separately, Nyala Insurance revealed a 20 million birr allocation for ESX share purchases, making it the fourth Ethiopian private insurer after Lion, United Insurance and Zemen Insurance to publicly invest on the exchange.
