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Ethiopia: Capital Market Service Providers will be Licensed in the Coming Six Months, Ethiopian Capital Market Authority

Ethiopian Capital Market Authority ENA

During a stakeholders’ consultation that was organized by the Addis Ababa Chamber of Commerce and Sectoral Associations, Ethiopian Capital Market Authority, and Ethiopian Securities Exchange under the theme “Ethiopia’s Capital Market”, it was announced that works were underway to license capital market service providers within six months.

After the Capital Market Proclamation was enacted in 2021, the Capital Market Authority has been working on regulatory guidelines, directives, and minimum admissions criteria which need to be fulfilled by those who apply to be licensed as capital market service providers.

According to Brook Taye (PhD), Director General of the Ethiopian Capital Market Authority, the Authority, which was established in June 2022, has been reorganized to be aligned with the Capital Market Proclamation. It is expected that the Authority will launch operations within the coming six months.

It is to be recalled that the Director General of Accounting and Audit Board of Ethiopia and Board Member of Ethiopia Capital Markets, Hikmet Abdela, disclosed that the Ethiopian Capital Market Authority was working to launch the Ethiopian Capital Market in two years.

Source (including image): Ethiopian News Agency

Additional Source: Fana BC