Since the introduction of bismuth‐modified electrodes in Anodic Stripping Voltammetry, it has been used to determine heavy metals in various matrices. However, most reports focused on water samples due to fewer sample treatment requirements. In this study, Square Wave Anodic Stripping Voltammetry technique with a bismuth‐modified glassy carbon electrode is reported for the simultaneous determination of lead and cadmium content in paints. Analysis of paint samples collected from three industries in Ethiopia showed excellent percent recovery values ranging from 97.99–102.07 %. The Pb and Cd contents in these products have not been reported yet. The limits of detection were 0.06 μmol/L for Pb(II) and 0.13 μmol/L for Cd(II). The concentration of Cd(II) is not in the detectable range (ND) in all paint samples. The concentration Pb(II) in paint samples of DH‐Geda (Green 3.41±0.62 ppm, Red 14.05±0.91 ppm, violate 11.23±1.08 ppm and White 12.04±0.57 ppm), Nefas silk (Green 2.95±0.29 ppm, Red 3.16±0.36 ppm, violate 7.42±0.83 ppm, and White 6.93±0.79 ppm) and Tsehay (Green 4.40±0.67 ppm, Red ND, Violate ND, and White ND). These results are cross‐checked with AAS and the result is almost the same. This method is not significantly influenced by the paint matrix and can be used as an alternative analytical method for the determination of heavy metals in the paint matrix. The amount of Pb(II) and Cd(II) in the given paints are below the permissible levels based on the regulation of Ethiopia (90 ppm for Pb). Therefore, they are safe to use in the country.