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Banking & FinanceA widening rift has emerged between Addis Ababa’s tax authority and the country’s accounting and auditing professionals following allegations of large-scale tax underreporting, potentially setting a precedent in Ethiopia’s enforcement of financial accountability. On April 1, 2025, the Addis Ababa Revenue Bureau released findings from a wide-ranging internal audit that scrutinized 36,729 tax files from
Capital MarketThe East African Securities Exchanges Association (EASEA) has launched a new tool called the EAE 20 Share Index to help track the performance of top companies listed on stock markets in East Africa. This is the first regional index of its kind. It brings together the 20 biggest and most successful companies from stock exchanges
The Ethiopian Securities Exchange (ESX) has entered into a strategic partnership with FSD Africa and FSD Ethiopia to accelerate the growth and resilience of Ethiopia’s capital markets. The three institutions signed a Memorandum of Understanding (MoU) that lays the groundwork for collaborative efforts aimed at unlocking Ethiopia’s investment potential and broadening access to capital. This
Capital MarketThe Ethiopian Capital Market Authority (ECMA) has announced the issuance of Directive No. 1047/2025 – Dematerialization of Publicly Offered Securities, effective March 5, 2025. The directive, made public today, shifts Ethiopia’s capital markets from paper-based securities to an electronic system. ECMA highlights that this change will improve efficiency, security, and transparency in market operations. The
Capital MarketAddis Ababa, Ethiopia – March 21, 2025 – The Ethiopian Capital Market Authority (ECMA) has announced the licensing of five new capital market service providers (CMSPs), marking a significant expansion of Ethiopia’s financial markets. The newly licensed CMSPs include: This expansion increases the total number of licensed CMSPs from four to nine and is
Capital MarketThe Ethiopian Capital Market Authority (ECMA) has granted a final one-month extension, until April 9, 2025, for publicly held companies to submit crucial documents related to their existing shares, as mandated by Directive No. 1030/2024. This extension addresses requests and allows for further submissions from companies with over 50 shareholders, including those currently raising capital.
Capital MarketThe Ethiopian Capital Market Authority (ECMA) has issued a public warning against an unauthorized entity operating under the name “Takilo Investment Bank.” The ECMA has discovered that Takilo has established a website claiming to be the first investment bank in Ethiopia, offering capital market services without the necessary license. The ECMA emphasizes that Takilo “Investment
Banking & FinanceThe National Bank of Ethiopia (NBE) and the Ethiopian Securities Exchange (ESX) have solidified their partnership with a newly signed Memorandum of Understanding (MoU), aimed at bolstering the operations and governance of the nation’s interbank money market. This agreement comes as the market, launched in October 2024, has already facilitated over 377 billion ETB in
Capital MarketThe Ethiopian Capital Market Authority (ECMA) has granted a Securities Investment Advisor license to Ethio Capital Solutions PLC, marking another step in the expansion of Ethiopia’s capital market. Ethio Capital Solutions PLC met the regulatory requirements set under the Capital Market Service Providers Licensing Directive No. 980/2024, ensuring its compliance with professional and ethical standards.
Capital MarketThe Ethiopian Securities Exchange (ESX) has signed a Memorandum of Understanding (MoU) with the Rwanda Stock Exchange (RSE) in a strategic move aimed at fostering collaboration and enhancing the efficiency and sustainability of capital markets in the region. The agreement, signed in Addis Ababa, marks a significant milestone in the integration of capital markets between
Capital MarketIn an exclusive interview with the Ethiopian News Agency (ENA), the CEO of the Ethiopian Securities Exchange (ESX), Tilahun E. Kassahun, confirmed that the exchange has become fully operational, supported by the necessary infrastructure and legal framework. According to Tilahun, ESX is already aligning with international stock market standards and listing requirements in its early
Capital MarketIn a recent interview on the Ethiopia in Focus program with Billene Seyoum, Dr. Brook Taye discussed key initiatives being undertaken by Ethiopian Investment Holdings and shared insights on its future outlook. Ethiopia is undergoing a significant economic transformation, spearheaded by its newly launched Sovereign Wealth Fund, Ethiopian Investment Holdings (EIH). Dr. Brook Taye, CEO
