Ethio Telecom, Ethiopia’s leading telecommunications provider, has announced it is preparing to enable its shareholders to trade their shares on the newly launched Ethiopian Securities Exchange (ESX), marking a significant step in the country’s ongoing capital market reforms.

The move comes after the successful sale of 10% of Ethio Telecom’s shares to the public, a historic offering that began on October 16, 2024, and concluded on February 14, 2025, following an extension to accommodate strong demand. During this period, more than 47,000 Ethiopian citizens acquired ownership stakes, purchasing over 10.7 million ordinary shares and raising approximately 3.2 billion birr. The share sale was conducted exclusively via the Telebirr SuperApp and was open only to Ethiopian citizens residing in the country.

Ethio Telecom CEO Frehiwot Tamiru highlighted that the initiative aimed to accelerate inclusive and sustainable economic development, encourage broader domestic investment, and empower ordinary Ethiopians to participate in the nation’s growth. “The sale of ownership shares was mainly aimed at accelerating inclusive and sustainable economic development and growth of the government, as well as encouraging more citizens to participate more widely in domestic investment,” Frehiwot stated.

With the initial public offering completed, Ethio Telecom is now working towards registering on the ESX, Ethiopia’s first securities exchange, which officially began operations in January 2025. The company is taking steps to meet regulatory requirements set by the Ethiopian Capital Market Authority (ECMA), secure necessary approvals from its board and shareholders, and strengthen its internal governance in preparation for public trading.