Ethio Telecom has announced that shareholders who purchased shares in the company are now able to buy, sell, and transfer their holdings through the Ethiopian Securities Exchange (ESX), marking a major step in the development of Ethiopia’s capital market system.
The company said the move follows reforms introduced under Ethiopia’s Homegrown Economic Reform program, which included the establishment of the Ethiopian capital market to allow citizens to own stakes in state-owned enterprises.
Ethio telecom stated that it had completed the transition from a public enterprise into a share company in accordance with Ethiopia’s Commercial Code and directives issued by the Ethiopian Capital Market Authority.
The telecom operator previously sold 10.7 million ordinary shares to 47,377 Ethiopian citizens as part of the government’s plan to transfer a 10 percent ownership stake to the public.
According to the company, 45,366 shareholders, representing 95.8 percent of investors, have successfully completed ownership verification and share digitization procedures.
These shareholders collectively hold more than 10.1 million shares valued at approximately 3.04 billion birr.
The company said shareholders can now officially trade or transfer their shares on the Ethiopian Securities Exchange.
To participate in trading, investors are required to open accounts through licensed investment banks or brokerage firms authorized by the Ethiopian Capital Market Authority.
Ethio telecom added that ownership rights for shareholders who completed the digitization process will be fully recognized and protected starting from the current fiscal year.
The company also disclosed that it plans to release its annual financial audit report and fiscal year performance summary in the coming months.
In addition, the first Annual General Meeting (AGM) is expected to be held during the next budget year, where shareholders will discuss dividend distributions and other strategic decisions.
Meanwhile, the company urged 1,646 shareholders whose verification remains incomplete due to missing national identification details to finalize their registration process.
It also said refunds would be issued to 248 foreign nationals found ineligible to purchase shares under current regulations.
Shareholders can monitor market activity and access information related to their holdings through the investor relations section of the company’s official website.