By Ayomide Otitoju
The Africa Development Bank Group (AfDB) and the Ethiopian Capital Market Authority (ECMA) have signed a $400,000 grant agreement to support the establishment of a public disclosure platform and the introduction of new financial products at the Ethiopian Securities Exchange.
The grant, provided through the Capital Markets Development Trust Fund (CMDTF), will finance the Ethiopia Capital Market Development Support Project. The initiative builds on AfDB’s earlier support, including the creation of Ethiopia’s capital market legal framework in 2021.
The planned disclosure platform is expected to improve transparency by ensuring timely and accurate dissemination of company information to investors, shareholders, and market participants. In addition, new investment products will be rolled out, including Exchange Traded Funds (ETFs), sukuks, and green bonds.
At the signing ceremony in Addis Ababa, ECMA Director General Hana Tehelku described the project as “a vital step toward building a vibrant and resilient Ethiopian capital market,” adding that it would attract both domestic and foreign investment while expanding access to long-term financing.
AfDB’s Capital Markets Development Manager, Mrs. Akane Zoukpo Sanankoua, signed on behalf of the Bank Group, noting that the project would “improve access to long-term financing for both public and private sectors while unlocking new financial opportunities.”
The event was also attended by Mr. Sebastian Beyenburg, First Secretary at the Embassy of Luxembourg in Addis Ababa, representing CMDTF donors.
Established in 2019, the CMDTF is funded by the governments of the Netherlands, Luxembourg, and Sweden. As of September 2025, it has an active portfolio of $6 million across 16 countries. The Ethiopian project is the first CMDTF-supported initiative outside West Africa, marking a step toward broader regional expansion.
