Addis Ababa, April 25, 2025 (FMC) — Ethio telecom today confirmed that it has completed its historic share sale, enabling 47,377 Ethiopian citizens to become shareholders in the company.
The company revealed that a total of 10.7 million shares were purchased, generating approximately 3.2 billion Birr in capital.
The share sale is part of Ethiopia’s broader economic reform efforts to increase citizen participation in the capital market.
Launched by Prime Minister Abiy Ahmed on October 16, 2024, the sale was initially set to close on January 3, 2025. However, the deadline was extended to February 14, 2025, after preliminary results were reviewed by relevant government bodies and the Ethiopian Capital Market Authority (ECMA).
The sale lasted for 121 days, including weekends and holidays, providing ample opportunity for citizens to participate.
The sale was conducted digitally, ensuring a transparent, secure, and accessible process. It was aimed primarily at Ethiopian citizens residing within the country, with a minimum purchase price set to ensure broad local participation.
While there was significant interest from Ethiopians abroad and foreign investors, the focus remained on domestic involvement in the country’s emerging capital market.
The next phase will involve finalizing shareholder details and registering the shares with the Central Securities Depository (CSD), following approval from the Capital Market Authority.
Ethio telecom said it is also preparing to list its shares on the Ethiopian Securities Exchange (ESX), enabling shareholders to trade their stakes.
The state-owned telecom company has committed to providing regular updates to shareholders throughout this process, including details on the future sale of remaining shares, which will be offered in a way that protects the interests of existing investors.