Ethiopian Capital Market Authority (ECMA) has granted a final one-month extension for publicly held companies to register, setting the new deadline for April 9, 2025. The extension applies specifically to companies with over 50 shareholders, who are required to submit comprehensive documentation across all industries. Mandatory details include the total number of shareholders, the total number of shares issued, fully paid shares, subscribed shares, and the value of shares on the reporting date. ECMA underscores that this is the final extension and warns that non-compliance will result in penalties. The data collection aims to enhance regulatory compliance, information disclosure, and transparency within the developing market. The establishment of a functioning capital market is intended to attract investment, promote economic growth, and diversify the country's financial sector. ECMA was formally established in June 2021, and is a key part of the government's plan to liberalise the financial sector. Meanwhile, the federal government has been actively working to create a regulatory framework and infrastructure to support this development. The Authority cautioned the public against "Takilo," an unlicensed company claiming to be Ethiopia's first investment bank. According to the notice, the Company has not received any investment banking license and is operating a website without proper authorisation.
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