The Ethiopian Capital Market Authority (ECMA) has granted a Capital Market Service Provider (CMSP) license to United Capital Financial Services PLC, a subsidiary of United Capital Group Nigeria, making it the first foreign investment bank to establish a subsidiary in Ethiopia. The license authorizes the company to operate under the Investment Banking category. The Authority […]
Capital markets development is a key component of the Government of Ethiopia’s
(GoE) Home-Grown Economic Reform Program and the 10-Year Development Plan
(2021- 2031). In line with this commitment, the Capital Markets Proclamation (No.
1248/2021) was adopted by the House of Peoples’ Representatives in June 2021, which
included the establishment of the Ethiopian Capital Market Authority (ECMA).
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