The 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 Bank” has not obtained the required license to operate as an investment bank or any other capital market service provider, as mandated by the Capital Market Service Providers Licensing and Supervision Directive No. 980/2024. Consequently, it is illegal for Takilo to offer capital market services within Ethiopia.
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According to the Capital Market Proclamation No. 1248/2021 and the aforementioned directive, only entities duly registered and regulated by the ECMA are authorized to provide capital market services in the country.
The ECMA strongly advises individuals and organizations to refrain from engaging in any capital market-related investment transactions with Takilo “Investment Bank” or any other entity claiming to provide such services without proper ECMA licensing. Engaging with unauthorized entities poses significant risks to investors, as they are not subject to the regulatory oversight designed to protect investors and maintain market integrity.
“We urge the public to exercise caution and due diligence when considering any investment opportunities,” stated ECMA in its press release. “It is crucial to verify the credentials and licensing status of any individual or organization posing as a capital market service provider before entering into any agreements or transactions.”
The authority will take all necessary actions to address and prevent the operation of unauthorized service providers. The public is also encouraged to report any suspected unauthorized activities to the ECMA.
