About

Empowering Ethiopia’s financial future through robust market regulation and development.

About Us

The Ethiopian Capital Market Authority (ECMA) is the regulatory body responsible for overseeing and fostering the growth and development of Ethiopia’s capital markets. Established with a mandate to create a robust, transparent, and efficient market system, ECMA is dedicated to ensuring that Ethiopia’s financial markets operate with integrity, fairness, and accountability.

Our Purpose

Inclusive finance for shared prosperity.

Our Vision

To be a pioneer capital market regulator through innovation and regulatory excellence.

Our Mission

To foster a vibrant capital market ecosystem that promotes innovation, financial inclusion, and drives sustainable economic growth.

Our Values

Accountability

Integrity

Independence

Excellence

Our Role and Responsibilities

ECMA plays a pivotal role in the regulation and development of Ethiopia’s capital markets. 
Our responsibilities include:

  • Licensing and supervising market participants, including stock exchanges, brokers, and other intermediaries.
  • Developing and enforcing regulations that ensure the integrity, transparency, and efficiency of the market.
  • Protecting investors by promoting fair practices and mitigating market risks.
  • Facilitating the development of a diverse range of financial products and services to meet the needs of different market participants.
  • Engaging with stakeholders, including government entities, financial institutions, and the public, 
to promote awareness and understanding of capital markets.

Our Journey

The Ethiopian Capital Market Authority was formally established in June 2021 as an autonomous federal government agency. Its creation was part of Ethiopia’s broader economic reforms aimed at liberalizing the financial sector and encouraging private investment. The ECMA was set up under Proclamation No. 1248/2021, which provides the legal foundation for the authority to regulate and oversee the country’s emerging capital market. Dr. Brook Taye, the first Director General of ECMA, led the authority from its inception, focusing on establishing the foundational regulatory frameworks and building institutional capacity for the capital market. In August 2024, Ms. Hana Tehelku succeeded him, bringing expertise in law, prosecution, and financial crime investigation, signaling a new phase of strengthened regulatory enforcement and enhanced market credibility.

ECMA is committed to building a transparent and efficient capital market in Ethiopia.

Hana Tehelku

Director General, ECMA

Looking Ahead

As we continue to develop and strengthen Ethiopia’s capital markets, ECMA remains committed to its mission of building a strong, resilient, and inclusive financial system. We look forward to working with 
our partners and stakeholders to achieve our vision of a thriving capital market that supports Ethiopia’s long-term economic goals.

Board of Directors

Ms. Hana Tehelku

Director General of Ethiopian Capital Market Authority

Mamo Mihretu Esmelealem

Governor of National Bank of Ethiopia, Chairman
Permanent Ex-officio Member

Gebreyesus Gonitiye

Board Secretary

Abate Abebe

Addis Ababa University Professor - Member

Wondimagegnehu Negera

CEO of Ethiopian Commodities Exchange - Member

Dr. Eyob Tesfaye

UN Capital Development Fund – Member

Quick facts

Founded to regulate and develop Ethiopia’s capital markets.

Mission

Promote transparency, integrity, and growth in the financial sector.

Market Oversight

Ensures fair practices and compliance among market participants.

Investor Protection

Safeguards the interests of local and international investors.

Innovation Support

Encourages financial innovation to enhance market efficiency.

Educational Initiatives

Provides resources and education to investors and stakeholders.

Global Standards

Aligns with international best practices to foster investor confidence.

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Quick links
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Get In Touch

Address

Minaye Corporate Building 15th Floor

Flamingo Area, Kirkos
Addis Ababa, Ethiopia

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