Application Process and Participation

Application Process and Participation

Participating in the Ethiopian Capital Market Regulatory Sandbox begins with a clear and structured application process designed to assess the eligibility and readiness of firms to engage in testing innovative products or services. Here is an overview of the application process:

Interested parties are encouraged to initially reach out via our dedicated communication channels to discuss their ideas and understand the scope and requirements of the sandbox. This preliminary interaction helps clarify any questions and ensures that potential applications are well-informed and aligned with the regulatory expectations.

Applicants must complete the detailed application form available on our website. The form requests comprehensive information about the firm, the innovation, and the intended test, including details on how the product or service meets the eligibility criteria. Applicants should also provide documentation supporting their readiness and capacity to conduct the test, such as technical descriptions, business plans, and risk management strategies. Link to “How to Apply” page. 

Once submitted, applications undergo an initial screening to ensure completeness and adherence to the sandbox’s scope. This is followed by a more detailed review conducted by sandbox leads at the Ethiopian Capital Markets Authority. They assess the applications against the eligibility criteria, focusing on the innovation’s potential impact, readiness for testing, and alignment with regulatory frameworks.

Successful applicants will receive detailed feedback and guidance on the next steps, including the preparation of a testing plan. Unsuccessful applicants will also receive feedback, which can be used to refine their proposals and potentially reapply in future cycles.

For successful applicants, a detailed testing plan will be developed in collaboration with regulators. This plan outlines the testing objectives, methodologies, timelines, and compliance requirements. It ensures all parties have a clear understanding of the test’s scope and the regulatory safeguards in place.

Upon agreement of the testing plan, firms can begin the testing phase, during which they will have regular interactions with sandbox officials to ensure compliance with the agreed parameters and to discuss any emerging issues or findings.

At the end of the testing phase, firms are required to submit a final report detailing the outcomes, learnings, and any proposed next steps. The sandbox committee reviews this report to decide on the appropriate exit strategy, which may include transitioning the product or service to the broader market, extending the testing phase, or cessation of the tested activity if necessary.

X-twitter Linkedin Facebook
Quick links
  • Laws & Regulation
  • Licensing
  • Investor
  • Media
  • Regulatory Sandbox
Get In Touch

Address

Minaye Corporate Building 15th Floor

Flamingo Area, Kirkos
Addis Ababa, Ethiopia

  • Copyright © 2024 ECMA. All rights reserved.