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The Ethiopian Capital Market Authority (ECMA) today announced it has licensed three new Capital Market Service Providers (CMPs), bringing the total number of licensed providers to eleven.
The newly licensed firms are First Addis Investment Bank PLC, Ignite Capital PLC, and Zuri Capital S.C. The latter two received securities investment advisor licenses. First Addis Investment Bank PLC, however, was granted an investment banking license, making it the first investment bank in Ethiopia’s capital market to be a non-banking group and a Private Limited Company (PLC).
During the official ceremony, ECMA Director General Hana Tehelku urged them to play a meaningful role in the overall aim of fostering an inclusive capital market in the country.
