Deloitte Receives First Capital Market License


Deloitte Receives First Capital Market License

Deloitte, the global consulting firm, receives the inaugural capital market service provider license. The commencement of license issuance was announced last month, making Deloitte's entry into Ethiopia's budding capital market a notable milestone, given its nearly two-century-old legacy The event was held at the Ethiopian Capital Markets Authority's headquarters on Africa Avenue (Bole Road). Brook Taye (PhD), director general of the Authority, looks forward to seeing the first investment bank, indicating that the licensing of Deloitte as an investment advisor will allow to expedite the development. Ethiopia's venture into capital markets has been in the making for nearly five years, initially established within the central bank before forming an independent regulatory authority. The recent approval of the capital market service providers directive marks a significant development in the sector. The London-based consulting firm boasts revenues of 64 billion dollars last year. Tewodros Sisay, Deloitte Africa's economic advisory leader, said the pioneering move demonstrates dedication to supporting clients in the region.


Radar

Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


Radar

Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


Radar

City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...