Reports / Q3 2026
State of Ethiopian capital markets · Q3 2026
1 Jul 2026 to 30 Sept 2026. What happened on the Ethiopian Securities Exchange, in NBE's treasury-bill auctions, the birr and the interbank market, from ESX Lab's own records.
Equities
The ESX Lab composite index (unofficial) moved from 1,000 to 596.73, -40.33%, between 3 Jul 2026 and 30 Sept 2026.
| Company | Start (ETB) | End (ETB) | Change | Days with a close |
|---|---|---|---|---|
| Gadaa Bank | 1,062 | 1,004 | -5.46% | 23 |
| Wegagen Bank | 1,300 | 1,113 | -14.38% | 48 |
| Awash Bank | 2,955 | 2,500 | -15.4% | 62 |
| Abay Bank | 1,800 | 1,200 | -33.33% | 49 |
| Bank of Abyssinia | 3,000 | 1,800 | -40% | 44 |
| Ethio Telecom | 852 | 440 | -48.36% | 62 |
Treasury bills
NBE published 5 auction results this quarter; 2 announced auctions have no published result.
| Auction | Date | Average yield | 28-day | 91-day | 182-day | 364-day |
|---|---|---|---|---|---|---|
| 1007/2026 | 8 Jul 2026 | 9.166% | 6.932% | 8.34% | 9.516% | 12.394% |
| 1008/2026 | 22 Jul 2026 | 9.181% | 5.502% | 7.659% | 8.806% | 11.142% |
| 1009/2026 | 5 Aug 2026 | 7.692% | 4.887% | 5.53% | 6.997% | 9.996% |
| 1010/2026 | 19 Aug 2026 | 6.453% | 3.516% | 4.564% | 5.671% | 8.72% |
| 1012/2026 | 16 Sept 2026 | 5.361% | 1.958% | 3.235% | 4.932% | 7.597% |
The birr
NBE's weighted-average dollar rate went from 158.048 birr (30 Jun 2026) to 160.902 birr (30 Sept 2026), +1.81%.
Interbank money market
ETB 570.5B was lent between banks over 13 weeks. Average weekly rates: Overnight 13.13%, 7 days 13.01%.
Sources: ESX, NBE and ECMA, as collected by ESX Lab. Prices are delayed snapshots; past moves say nothing about future ones. Facts only, not advice. To print or save as PDF, use your browser's print command.
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