In the statement released today by Ethiopian Capital Market Authority, Deloitte has become the first licensed securities investment advisor in Ethiopia.
This significant achievement places Deloitte at the forefront of Ethiopia’s rapidly evolving capital market landscape.
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As part of this milestone, Deloitte has committed to collaborating closely with ECMA to utilize its extensive global and African experience. This collaboration aims to support the development of Ethiopia’s capital market, drive economic growth, and nurture local talent.
Ethiopia is a key market for Deloitte, and the firm remains dedicated to investing in the local economy. By leveraging its world-class multidisciplinary capabilities, global resources, extensive industry experience, and market knowledge, Deloitte aims to empower businesses in Ethiopia to tackle complex challenges effectively.
Deloitte’s profound understanding of the regulatory landscape and market dynamics will help foster trust in the capital market and assist clients in navigating complexities. The issuance of this license enables Deloitte to offer its award-winning services, including mergers and acquisitions (M&A), equity capital markets, and transaction advisory services, to clients in Ethiopia. These services will complement Deloitte’s broad suite of offerings in strategy, assurance, risk advisory, and technology transformation services.
Dr. Brook Taye, Director General of the Ethiopian Capital Market Authority noted, “We are delighted with this important milestone in Ethiopia’s journey to a dynamic capital market ecosystem. This is the first of many milestones to come. In the next few weeks and months, we look forward to seeing the first investment bank, the first broker/dealer, the first market maker acquires a license to operate in our market. With the launch of the Ethiopian Securities Exchange on the horizon and the first Public Offering of a state-owned enterprise, the licensing of Deloitte as an investment advisor will allow us to expedite the development of capital market in Ethiopia.”
Deloitte’s presence in Ethiopia is expected to contribute significantly to the country’s economic progress and strengthen its position as an attractive destination for foreign investment. The firm’s license to operate as a securities investment advisor highlights its commitment to the Ethiopian market, its long-term vision, and its dedication to collaboration and partnership with local stakeholders.
Commenting on the announcement, Tewodros Sisay, Deloitte Africa Economic Advisory Leader, stated, “We are thrilled to be the first licensed securities advisor in Ethiopia. This achievement underscores our commitment to the country’s capital market growth and demonstrates our dedication to supporting our clients in the region. With our unparalleled expertise, resources, and global network, we are well-positioned to support businesses in Ethiopia to thrive and succeed in today’s fast-paced and ever-changing business environment.”
Source: ECMA
