Ethiopia’s capital market regulator on Wednesday licensed three new financial services firms, bringing the total number of licensed entities to eleven as the country continues to develop its capital markets.
The newly licensed firms are First Addis Investment Bank PLC, which was granted an investment banking license, and Ignite Capital PLC and Zuri Capital S.C., both of which received securities investment advisor licenses, the Ethiopian Capital Market Authority (ECMA) said.
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The licensing ceremony took place at the ECMA’s headquarters in the capital, Addis Ababa.
“The involvement of these new service providers is a key step towards advancing Ethiopia’s capital market,” said ECMA Director General Hana Tehelku, who emphasized their role in fostering an inclusive, transparent, and resilient market.
The ECMA, an independent regulatory body, is charged with promoting the development of the capital market, building investor confidence, and facilitating the mobilization of capital to underpin sustainable economic growth.
