Ethiopian Capital Market Authority

The Capital Market Authority (CMA) is one of the key institutions established by Article 3(1) of the Proclamation as an autonomous Federal Government Regulatory Authority with its own juridical personality, accountable to the Prime Minister of the Federal Democratic Republic of Ethiopia.

Press Release

‘’የካፒታል ገበያ አገልግሎት ሰጪዎች ፈቃድ አሰጣጥና ቁጥጥር መመሪያ ቁጥር 980/2016’’ ከዛሬ ጥር 9 ቀን 2016 ዓ.ም ጀምሮ በይፋ ስራ ላይ ውሏል።

Press Release on the registration of the Capital Market Service Providers Licensing and Supervision Directive No. 980/2024 by the Ministry of Justice.

Proclamation No. 1248/2021 The Federal Democratic Republic of Ethiopia Capital Market Proclamation

Directives from the Authority

የኢትዮጵያ የካፒታል ገበያ ባለሥልጣን የክፍያ መመሪያ ቁጥር 996/2016 | Fee Directive No.996/2024

የካፒታል ገበያ አገልግሎት ሰጪዎች ፈቃድ አሰጣጥና ቁጥጥር መመሪያ ቁጥር 980/2016 (Amharic Version)

The Capital Market Service Providers Licensing and Supervision Directive No. 980/2024 (English Version)

Ethiopian Stock Market: Challenges and Opportunities

Ethiopia’s new ESX, or the stock market, is set to become a reality in 2024-25. In the last five years, there have been continuous efforts by the Ethiopian finance ministry in association with African market specialists to pave the way for its stock market.

Prioritizing Physical Infrastructure

For starters, Ethiopia needs to upgrade its internet and cell phone capabilities. It is a digital and tech-driven age, and Ethiopia needs to set foot in and ensure fast and accurate trading.

Launching Ethiopian Stock Market: Expected Benefits

Before Ethiopia launches its stock market, it must run informative campaigns to raise public awareness about the stock market. For instance, the stock market can help Ethiopia drive consistent economic growth.

Draft – Directives

About us

The 6 major priority areas of the project team are:

1. Capital Market Authority Formation
2. Regulatory Framework Development
3. Capacity Development and Investor Education
4. Long-Term Capital Market Development Roadmap
5. Enabling Environment: Review of Institutional Investor Regulation, Macro-Financial, and Tax Policies.
6. Setting up the Exchange: Supporting the Ethiopian Securities Exchange (ESX ) Project Team.



Addis Ababa, February 2/2023/ENA Ethiopian Capital Market Authority announced that it is undertaking the necessary preparations to issue licenses to capital market service providers over the coming six months.

Africa Business Insider

In May 2022, Ethiopia established EIH (Ethiopia Investment Holdings), a sovereign and dedicated wealth fund. The idea was to attract more international investments within the program and move forward with economic privatization. Since the development of EIH, the country is set to launch the Ethiopian Securities Exchange.


Stakeholders came together to discuss and provide feedback on the proposed draft directives and proposal that underpin the Capital Market Roadmap leading to the establishment of full-fledged Capital Markets in Ethiopia.
The consultation was organised in June 2022 by the National Bank of Ethiopia’s Capital Market Project Implementation Team (CMPIT). 

Introducing Ethiopian Capital Market – With Dr. Brook Taye – S07 EP65

An in-depth discussion with Dr. Brook Taye, General Director of the Ethiopian Capital Market Authority on Meri Podcast.

Bloomberg Q&A with the Director General

As part of their Africa Regulatory Profile Series, Bloomberg interviewed our Director General Brook Taye (Ph.D.)

Get in touch with us today!

Address :
Minaye Corporate Building 15th Floor,

Flamingo Area, Kirkos
Addis Ababa, Ethiopia

+251 115578250 | +251 115578310

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