Ethiopian securities exchange has officially launched it’s trading app, Neway Mobile Application. Whether you are in Addis Ababa or anywhere else across the country, you can now trade shares directly from your smartphone. Here’s how you can start trading on ESX using Neway app.
How to Get Started with the Neway App
Download and Sign Up: Go to the Google Play Store or Apple App Store and download the Neway app.
Once opened, navigate to the “Create Account” page. Enter your name, email, and phone number, and create a secure password.
Verify Your Identity: You will receive a six-digit OTP (One-Time Password) via your email to verify your identity. Enter this code into the app to activate your trading account.
Explore the Market: Once logged in, you can browse various investment options, such as shares from Gada Bank, Wegagen Bank, and even government Treasury bills (T-bills).
Opening a Brokerage Account
While you can see the listings, you cannot trade yet without a brokerage account. Here is how to set it up:
- Select a Broker: Inside the Neway app, click the “Become an Investor” button. You will see a list of approximately six officially licensed brokers. Choose one to proceed.
- Provide Personal Information: After agreeing to their terms and conditions, you must fill out your profile. This includes your full name, TIN number, Fayda (National ID) number, and residential address.
- Link Your Banking: You must link a bank account for your transactions. You can link it directly or pay the broker to manage it for you. You even have the option to use different bank accounts for different types of investments (e.g., one for bank shares and another for T-bills).
- Compliance and Risk Assessment: You will be asked “Risk Tolerance” questions to determine your investment style. Additionally, you must disclose any legal or professional ties, such as being a public official, having a political affiliation, or working within capital market service providers like investment banks.
- Upload Documents: Finally, upload a digital copy of your National ID, Passport, or Driver’s License, along with your signature and a photo.
The Final Step: CSD Registration
Even after submitting your documents, you cannot trade instantly. Your chosen broker must first verify your information and open a CSD (Central Securities Depository) account for you. This is a secure digital treasury where all your shares and bonds are officially registered.
Once the broker notifies you that your account is ready, you can return to the Neway app. From there, you will be able to:
- View your current share holdings.
- Track your transaction history.
- Monitor profits, losses, and your withdrawable balance.
- Start buying and selling shares freely!
Please note that, ESX explicitly cautioned that during the initial phase of implementation, access to the NEWAY platform is limited to the territory of Ethiopia.
And if you have questions or need assistance using NEWAY, the ESX mobile trading platform, you can Call Center: 9920, Hours: Monday – Friday | 8:30 AM – 5:30 PM, Email: bbo@esx.et (anytime)