All briefs
2026-04-28

Wegagen drops 10.7% on ESX; ECMA finalizes mutual-fund directive

Wegagen Bank fell 10.68% to 1,049.50 birr on the latest ESX session while Awash held flat at 3,000.04. ECMA finalized the long-awaited CIS directive, opening the door to mutual funds.

FX (data as of 2026-04-27, today's session not yet in)

USD/ETB official traded at 156.755 / 158.3226 (buy/sell). The parallel market quoted 181.86 / 181.86, leaving a gap of 14.9% above the official sell rate. Only the parallel pair carried a logged daily move (-1.7%); official pairs showed no change marker for the session. EUR/ETB sat at 183.4504 / 185.2849 and GBP/ETB at 211.4938 / 213.6088.

Macro

The NBE-published FX gap (parallel vs official) printed 17.5% on 2026-04-26 — the only macro indicator within the past 14 days. Earlier readings (Mar-15 inflation, Mar-21 policy/yield/credit data) fall outside the 14-day window and are skipped.

ESX (session of 2026-04-27 — today's session not yet in)

- Wegagen Bank (WGBX) led losses, falling 10.68% to 1,049.50 birr. - Interbank Money Market (IBMM) rose 6.9% to 13.22. - Awash Bank (AWAB) held at 3,000.04 (0.00%); Gadaa Bank (GDAB) was flat at 1,000. - AWAB's listing-day reference move (+201.12% on 2026-04-23) was a debut vs reference price, not a session jump — the stock has consolidated near 3,000 since.

Watch

- ECMA finalized the Collective Investment Schemes directive, providing the legal framework for mutual funds and unit trusts to operate alongside the ESX (Capital, 2026-04-26). - Ethiopia's 23-year WTO accession bid entered a decisive stage after the 7th Working Party meeting in Geneva on 22-23 April (ENA, 2026-04-27). - CIF launched the Accelerating Resilience Investments program in Addis Ababa offering 30-40M USD per country, with Ethiopia citing roughly 90M USD in existing CIF investments ahead of COP32 hosting (ENA, 2026-04-27).