Addis Ababa, Ethiopia - September 2, 2025 Ethio Telecom has officially confirmed share allotments for investors who subscribed during its long-awaited initial public offering, the first in Ethiopia’s history. Investors across the country began receiving text messages this week detailing the number of shares allocated to them.
The IPO, launched in October 2024, offered 100 million shares at a price of 300 birr each, aiming to raise 30 billion birr. According to official figures, 10.7 million shares were sold representing around 10.7 percent of the total offer raising approximately 3.2 billion birr from nearly 47,000 Ethiopian investors.
The confirmation of allotments marks a turning point for Ethiopia’s financial sector. For the first time, ordinary citizens have become shareholders in a major state-owned enterprise. Ethio Telecom, which serves more than 80 million subscribers, reported a pre-tax profit of 76 billion birr in its last financial year, an increase of more than 80 percent compared with the year before.
The under-subscription has prompted authorities to plan a second round of the IPO, which is expected to expand participation to the Ethiopian diaspora and institutional investors. The move is seen as essential to mobilizing wider capital and strengthening public confidence in Ethiopia’s emerging capital market.
The allotment confirmations also signal progress toward the real operationalization of the Ethiopian Securities Exchange (ESX), where trading of Ethio Telecom shares is expected in the near future. For many analysts, this moment represents more than a corporate transaction: it is the first tangible step in building a modern securities market in Ethiopia.
As messages continue to reach new shareholders, the development is being hailed as both symbolic and practical bringing Ethiopia closer to a financial system where citizens, institutions, and the diaspora can invest directly in the country’s future.