The Ethiopian Securities Exchange (ESX) has welcomed Awash Insurance S.C. to its Main Market, making it the first insurance company to list on the Exchange. The milestone was marked by a Bell Ringing Ceremony at the ESX trading floor, representing an important step in the development and diversification of Ethiopia’s capital market.
Established in 1994, Awash Insurance is one of Ethiopia’s pioneering private insurance companies, with more than three decades of experience in the industry. Its listing introduces the insurance sector to the Exchange, expands investment opportunities for investors, and creates a new avenue for the sector to participate in the country’s growing capital market.
Expanding Market Participation
Following the completion of the necessary registration with the Ethiopian Capital Market Authority (ECMA) and the dematerialization of its securities by the National Bank of Ethiopia’s Central Securities Depository, Awash Insurance’s shares are now listed on the ESX Main Market.
The listing reflects the Company’s commitment to strengthening corporate governance, transparency, and accountability to shareholders. It also enables investors to trade its shares through the Exchange’s regulated, secure, and efficient trading environment.
Listing Information
- Company: Awash Insurance S.C.
- Ticker Symbol: AWIN
- Market: ESX Main Market
- Number of Listed Shares: 6,750,604
A New Chapter for Ethiopia’s Capital Market
Speaking at the ceremony, Yodit Kassa Waka, Chief Executive Officer of ESX, described the listing as a significant milestone for both the Exchange and Ethiopia’s financial sector.
She noted that the entry of the first insurance company into the Main Market demonstrates the continued expansion and diversification of the country’s capital market. She further highlighted the role of insurance companies in managing risk and mobilizing long-term savings, noting that their participation in the Exchange creates additional opportunities for investors to benefit from the growth of the sector.
Mr. Jibat Alemneh Faji, Chief Executive Officer of Awash Insurance, described the listing as an important milestone in the Company’s growth journey and the beginning of a new chapter focused on transparency, accountability, sustainable growth, and long-term value creation.
He emphasized that becoming the first insurance company listed on ESX reflects Awash Insurance’s commitment to strengthening investor confidence, creating sustainable shareholder value, and contributing to the development of Ethiopia’s financial sector and broader economy.
Advancing Ethiopia’s Capital Market
The listing of Awash Insurance marks another step in broadening the range of sectors represented on the Ethiopian Securities Exchange. By bringing insurance companies into the capital market, ESX continues to create opportunities for businesses to access capital and for investors to participate in a wider range of investment opportunities.
ESX extends its appreciation to the Ethiopian Capital Market Authority, the National Bank of Ethiopia, the Board of Directors and management of Awash Insurance, and all stakeholders whose contributions made this milestone possible.