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Authority Braces to Issue Capital Market Licenses

Feb 7 , 2024

Ethiopian Capital Market Authority (ECMA) plans to begin issuing over a dozen licenses for service providers next week.

Director General of the Authority, Brook Taye (PhD), disclosed that 16 types of permits will be available for applications.

Anticipation is high, with both domestic and foreign entities actively positioning themselves to capitalise on the emerging opportunities. Three foreign investment banks have already expressed keen interest, according to Brook.

The regulatory framework allows deposit-taking banks to form independent subsidiaries with a minimum capital requirement of 100 million Br, facilitating their entry into investment banking operations, and providing a strategic avenue for diversification.

According to Brook, local commercial banks have initiated preliminary operations to explore ways to engage in the market. One bank has already taken a proactive approach by hiring a private consultant to navigate this novel frontier.

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