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.

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...