Bank of Abyssinia Completes Electronic Share Registration Ahead of Capital Market Listing
Bank of Abyssinia has officially completed the electronic registration of its shares with the Ethiopian Capital Market Authority and the Central Securities Depository, marking a structural shift in how ownership rights for the bank’s securities are recorded and transferred.
Effective March 17, 2026, physical share certificates are no longer considered legally valid proof of ownership. According to the bank’s official notice, all ownership rights, transfers, pledges, and corporate actions will now be recognized exclusively through electronic records maintained within the CSD system.
Shareholders are required to open a Securities Trading Account through a licensed CSD member institution and deposit their physical certificates to complete the dematerialization process. Shares previously pledged as collateral must also be submitted through a CSD participant to ensure proper recording of security interests.
The bank stated that shareholders who fail to comply with the electronic conversion requirement may face restrictions when attempting to transfer shares, use them as collateral, or exercise related ownership rights. Future corporate actions, including rights issues and bonus share distributions, will be processed only through the electronic system.
The transition follows the registration of 15 million existing shares and 3.125 million newly issued shares with ECMA in January 2026. The process forms part of the bank’s broader preparation for listing on the Ethiopian Securities Exchange.
According to the bank, shareholder records submitted during the registration phase have been verified and confirmed as accurate. Investors requiring assistance are advised to contact the bank’s Share and Investment Department at its head office.
The move represents a significant milestone in Ethiopia’s evolving capital market infrastructure, supporting transparency, efficiency, and secure electronic record-keeping for securities ownership.
source: EBR