Ethiopia ready to award license to capital market service providers: Authority

Addis Ababa, March 24, 2023 (FBC) – Ethiopian Capital Market Authority has finalized preparations to award license to capital market service providers over the coming six months.

Director General of the Ethiopian Capital Market Authority, Brook Taye said entities which have fulfilled the necessary requirements and criteria will be awarded the license based on the guidelines put in place by the National Bank of Ethiopia and will commence operation in the coming three to six months, according to ENA.

Accordingly, regulatory guidelines and directives have been prepared for investors and other entities eligible to participate in the capital market, he added.

It is to be recalled that Ethiopia had approved Capital Markets Establishment Proclamation in 2021 to provide the legal foundation for the development of capital markets in the country.