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Erudite AfricaCenter of Excellence
← Introduction to Capital Markets

Investors and the Ethiopian market today

Module 05 / 5 · 60 min

Understand who invests and what each may buy, read the first steps of the Ethiopian market, and complete Meskerem's journey from listing to everyday trading.

In this module you will learn to

  • Describe retail, diaspora, institutional and foreign investors and what shapes their choices
  • Explain how inflation and interest rates affect the real return investors earn
  • Describe the state of the Ethiopian market: first listings, unlisted share companies, the Ethio telecom share sale and the pipeline of bank listings
  • Trace a share company's full journey and name the institution at each step

Built on

  • Erudite Africa training module: Ethiopian Context, topic 2.a Introduction to Capital Markets, Level 1 (October 2026)
  • Capital Market Proclamation No. 1248/2021 and National Bank of Ethiopia Proclamation No. 1359/2025
  • ECMA Directives No. 980/2024 (service provider licensing) and No. 996/2024 (fees); directives on exchanges and OTC (reported as No. 1009/2024) and public offers (reported as No. 1030/2024); draft Foreign Portfolio Investment Regulation (September 2026)
  • Ethiopian Securities Exchange Rulebook (December 2024)
  • NBE Directive No. SBB/92/2024 and NBE Monetary Policy Committee release No. 7 (July 2026)

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.