Empowering Ethiopia’s financial future through robust market regulation and development.
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.
Inclusive finance for shared prosperity.
To be a pioneer capital market regulator through innovation and regulatory excellence.
To foster a vibrant capital market ecosystem that promotes innovation, financial inclusion, and drives sustainable economic growth.
ECMA plays a pivotal role in the regulation and development of Ethiopia’s capital markets. Our responsibilities include:
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.
Director General of Ethiopian Capital Market Authority
Governor of National Bank of Ethiopia, Chairman Permanent Ex-officio Member
Board Secretary
Addis Ababa University Professor - Member
CEO of Ethiopian Commodities Exchange - Member
UN Capital Development Fund – Member
Founded to regulate and develop Ethiopia’s capital markets.
Promote transparency, integrity, and growth in the financial sector.
Ensures fair practices and compliance among market participants.
Safeguards the interests of local and international investors.
Encourages financial innovation to enhance market efficiency.
Provides resources and education to investors and stakeholders.
Aligns with international best practices to foster investor confidence.
Address
Minaye Corporate Building 15th Floor
Flamingo Area, Kirkos
Addis Ababa, Ethiopia
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