The Ethiopian Capital Market Authority has officially announced the licensing of three new capital market service providers, expanding the number of licensed firms from eight to eleven.

According to the announcement, First Addis Investment Bank Private Limited Company has been granted a license in the investment banking sector. This milestone makes First Addis the first investment bank in Ethiopia to receive a license outside of a banking group. Ignite Capital Private Limited Company has been licensed to operate in the investment advisory sector, marking another significant addition to Ethiopia’s emerging financial services landscape.

In addition, Zuri Capital Share Company has also been granted a license in the investment advisory sector, reflecting the growing diversity of licensed institutions within the Ethiopian capital market.

Speaking on the occasion, Hana Tehelku, Director General of the Ethiopian Capital Market Authority, called on the newly licensed institutions to play an active role in building a comprehensive and inclusive capital market system. She emphasized that the authority’s ongoing efforts are directed toward developing a robust financial market infrastructure that can serve Ethiopia’s economic transformation goals.

With these new entrants, the Ethiopian Capital Market Authority has highlighted the progress made in widening participation in the sector and reaffirmed its commitment to fostering a well-regulated, transparent, and competitive capital market environment.

Source: Ethiopian Broadcasting Service