Investor Type

Our goal is to empower you with the knowledge to make informed decisions and ensure a fair and transparent investment experience.

Every Investment Entails a Risk!

The ECMA aims to ensure the existence of a capital market environment in which securities can be issued and traded in an orderly, fair, efficient and transparent manner.

In Ethiopia, investors are broadly categorized into:

Retail Investors

Any person who sells, buys, or holds securities expecting financial return from such transactions.

Institutional Investors

Institutions/companies investing in capital market products such as;

    • Banks, insurance companies, microfinance and other financial institutions.
    • Federal and regional governments.
    • Collective Investment Schemes,
    • State owned enterprises,
    • Pension and retirement funds

Foreign Investors

Includes non-Ethiopian investors participating in Ethiopia’s capital market and includes;

    • A foreign national investor
    • An enterprise in which a foreign national has an ownership stake
    •  An enterprise incorporated outside of Ethiopia by any investor
    • An enterprise established jointly by two or three of the investors specified above
    • An Ethiopian permanently residing abroad and preferring treatment as a foreign investor; but, doesn’t include foreign nationals of Ethiopian origin who prefer to be treated as Ethiopian nationals;
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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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