Ethiopia: African Development Bank Provides $400,000 For Public Disclosure Platform To Boost Capital Market

The African Development Bank Group ( ) and the Ethiopian Capital Market Authority (ECMA) have signed a grant agreement for $400,000 for the set up of a public disclosure platform and rollout of new financial products including exchange traded funds and green bonds at the Ethiopian Securities Exchange

The grant, which will support the Ethiopia Capital Market Development Support Project, is being provided by the Capital Markets Development Trust Fund (CMDTF). The initiative builds on previous African Development Bank Group support including creation in 2021 of Ethiopia's capital market legal framework in 2021.

The planned public disclosure platform will facilitate timely and accurate dissemination of company information to investors, shareholders, and other market participants, thereby enhancing decision-making and fair price discovery in the market.

Under the product development component, new and diversified product offerings will be introduced, including Exchange Traded Funds, a type of investment fund that can be bought and sold on stock exchanges, sukuks (sharia-compliant financial instruments) and green bonds.

Ms Hana Tehelku, Director General of the Ethiopian Capital Market Authority signed the agreement at its offices in Addis Ababa. She said,“We are proud to collaborate with the African Development Bank's Capital Markets Development Trust Fund on this vital project. This grant reflects our shared vision for a vibrant and resilient Ethiopian capital market. The support for ECMA's infrastructure development and ESX's capacity building and product diversification will be instrumental in attracting domestic and international investment, propelling Ethiopia's economic growth, and expanding access to crucial long-term financing.

Mrs. Akane Zoukpo Sanankoua, African Development Bank Group Manager for Capital Markets Development signed for the Bank Group. She said,“The Ethiopia Capital Market Development Support Project's broad objective is to contribute to the expansion of Ethiopia's financial sector and economy by improving access to long-term financing for the public and private sector through capital markets. It reinforces the Bank's commitment to building resilient capital markets that can mobilize domestic and international long-term resources while unlocking new financial opportunities.”

Mr. Sebastian Beyenburg, First Secretary at the Embassy of Luxembourg in Addis Ababa, also attended the ceremony, representing donors of the Capital Markets Development Trust Fund (CMDTF), a multi-donor trust fund managed by the African Development Bank.

The CMDTF is funded by donors including the Ministry for Foreign Trade and Development Cooperation of the Netherlands, the Ministry of Finance of Luxembourg and the Swedish International Development Cooperation Agency. It was established in 2019 to support deepening and diversification of African capital market institutions.

As of September 2025, CMDTF has an active portfolio of $6 million covering sixteen countries. The Ethiopia Capital Market Development Support Project is the first project outside West Africa to be supported by the Trust Fund, which is seeking to expand interventions into other regions.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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  Ms. Hana Tehelku, Director General of the Ethiopian Capital Market Authority (5th from right), and Mrs. Akane Zoukpo Sanankoua, AfDB Manager for Capital Markets Development (4th from right), sign a $400,000 grant agreement to strengthen Ethiopia's capital markets infrastructure and offerings, flanked by members of both organizations

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About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information:

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