← Erudite Africa Center of ExcellenceCourse folder
Capital Market
Ethiopia's capital market, securities, investment analysis and investment banking.
For capital market professionals, investment bankers and fund managers.
School of Capital Markets and Investment
How Ethiopia's capital market works and how to analyze, advise on and manage investments.
- FoundationalIntroduction to Capital MarketsA foundational course on Ethiopia's new capital market, following one fictional share company from private placement to listing and trading on the Ethiopian Securities Exchange.5 modules · 26 lessons · final exam · certificate
- Foundational to AdvancedEthiopian Capital Markets Law and RegulationLearn the rules that govern Ethiopia's capital market, then apply them to a bank with 15,000 shareholders that sets up an investment bank and lists on the Ethiopian Securities Exchange.5 modules · 32 lessons · final exam · certificate
- Foundational to AdvancedSecuritiesLearn what each Ethiopian security gives its holder and how to price it, from T-bill yields and dividend yields to bond duration and bank share valuation, using one investment bank's files as a running case.5 modules · 32 lessons · final exam · certificate
- Foundational to AdvancedInvestment Analysis and Portfolio ManagementFrom the investment policy statement to the committee report: measure real returns, diversify across the Ethiopian asset menu, value listed shares and bonds, and manage portfolios where few securities trade.5 modules · 30 lessons · final exam · certificate
- Foundational to AdvancedBrokerage Operations and Client AdvisoryFollow one Addis Ababa broker through a trading day with three very different first-time clients, then build documented advice, model portfolios and the controls that keep client assets safe.5 modules · 33 lessons · final exam · certificate
School of Investment Banking
Hands-on valuation, deals and capital raising for investment bankers, fund managers and corporate finance teams.
- Foundational to AdvancedFinancial Modeling and Company ValuationFollow one fictional Ethiopian bottler from audited IFRS accounts to a linked model, a DCF and multiples valuation, birr and USD scenarios after the 2024 float, and an ESX offer recommendation, then value banks and take the first steps into merger models and simulation.5 modules · 31 lessons · final exam · certificate
- Intermediate to AdvancedDue Diligence MasteryLead a full due diligence on an Ethiopian target, from the request list and data room to a quantified DD report, price adjustments and deal protections, using a bank's acquisition of a microfinance institution as the running case.5 modules · 35 lessons · final exam · certificate
- IntermediateOrigination and Pitch Deck DevelopmentLearn how investment bankers originate mandates with family groups, banks, insurers, state enterprises and foreign investors, build a persuasive pitch book and win the room, while staying within Ethiopian rules on conflicts, confidentiality and pre-registration marketing.5 modules · 30 lessons · final exam · certificate
- Intermediate to AdvancedPrivate Equity and Venture CapitalFrom fund economics and deal screening to a full investment committee paper: value, structure, grow and exit a growth investment in a fictional Ethiopian agro-processor, with FX and ESX exit planning.5 modules · 30 lessons · final exam · certificate
- AdvancedLeveraged Buyout (LBO) ModelingAn advanced course that builds a full LBO model for a fictional Ethiopian dairy processor, then structures, stresses and bids for a family pharmaceutical distributor with local bank debt and DFI mezzanine.5 modules · 30 lessons · final exam · certificate
- AdvancedMergers and Acquisitions (M&A) Strategy and ExecutionRun an Ethiopian M&A deal end to end, from screening merger partners for a bank that missed the ETB 5 billion capital rule to negotiating the exchange ratio and delivering the integration plan.5 modules · 30 lessons · final exam · certificate
- AdvancedEquity Capital Markets (ECM)Learn how Ethiopian banks, insurers, state enterprises and growth companies raise equity and list on the ESX Main or Growth Board, then act as lead adviser to a bank listing by introduction with an ETB 1.5 billion capital raise.5 modules · 30 lessons · final exam · certificate
- AdvancedDebt Capital Markets (DCM)An advanced course on how governments, banks and companies raise money through bonds in Ethiopia, following one fictional bank from its first T-bill bid to a listed five-year ETB 2 billion green bond.5 modules · 30 lessons · final exam · certificate
- AdvancedNegotiation and Deal StructuringNegotiate a 40% stake in an Ethiopian logistics company and a multi-party growth investment and refinancing for a private hospital group, using earn-outs, preferences, ratchets, governance and exit rights that work under Ethiopian law.5 modules · 30 lessons · final exam · certificate
- AdvancedSector-Specific Analysis and ModelingApply valuation and modeling to the sectors that dominate Ethiopian deal flow, each with its own drivers, regulation and model structure, and finish with a model and valuation of a bank or a challenger mobile operator.5 modules · 30 lessons · final exam · certificate
- AdvancedESG Integration in Investment BankingApply ESG where it changes Ethiopian deals: due diligence and action plans, valuation and debt capacity, green and sustainability-linked instruments and disclosure, following one cement producer's sustainability-linked loan from start to finish.5 modules · 26 lessons · final exam · certificate