Gadaa Bank S.C. has officially launched a public offering of one million ordinary shares. To facilitate the transaction, the bank has partnered with some of the country’s leading investment firms. The subscription period opened on June 30, 2026, and will remain open until September 27, 2026.
Following regulatory clearance from the Ethiopian Capital Market Authority (ECMA), the launch was formally announced in a joint statement by Gadaa Bank CEO Wolde Bulto and Ethiopian Securities Exchange (ESX) CEO Tilahun Esmael. To streamline the transaction, Gadaa Bank has collaborated with a syndicate of licensed brokerage firms, including Gadaa Securities Dealer, CBE Capital, Awash Capital and Wegagen Capital Investment Bank.
The shares are priced at 1,050 birr per unit. The pricing strategy is designed to ensure affordability, broaden equity ownership and expand the bank’s base of retail investors. The offering also reinforces Gadaa Bank’s role as a pioneer in Ethiopia’s emerging capital markets. The bank was among the first financial institutions to join the ESX and had previously listed 1.23 million ordinary shares with a par value of 1,000 birr each.
The capital injection is intended to support Gadaa Bank’s next phase of growth, with a particular focus on expanding its digital banking infrastructure. The issuance follows a strong fiscal year, during which the bank recorded pre-tax profit of more than 1 billion birr, a 113 percent increase from the previous year, bringing total assets to 16.5 billion birr.
By the end of the fiscal year, customer deposits had reached 12.6 billion birr, up 64 percent year-on-year. The bank currently operates a nationwide network of 110 branches, including 10 new outlets opened during the period. It has also completed the feasibility study and architectural designs for its planned headquarters, which has now moved to the tender stage.
The public offering reflects the broader development of Ethiopia’s capital market ecosystem, which has gained momentum following the launch of the Ethiopian Securities Exchange in 2025. These reforms, introduced as part of wider economic restructuring, aim to mobilize long-term capital, broaden financing options beyond traditional bank lending and attract both domestic and foreign investors.
Under Capital Market Proclamation No. 1248/2021, the ECMA has continued to license investment banks and market intermediaries, laying the groundwork for the ESX’s growth. The exchange first gained traction through its money market segment, where interbank transactions have surpassed one trillion birr since launch. The main equity market currently lists several major institutions, including Wegagen Bank, Gadaa Bank, Ethio Telecom, Awash Bank and Abay Bank.
