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Ethio Fidelity Breaks Ground as First Dealer Licensed by ECMA

Jul 30 , 2025

Ethio Fidelity Securities S.C. secured its trading member license today, July 30, 2025, becoming the first independently established dealer to attain full membership on the Ethiopian Securities Exchange (ESX).

The announcement was marked by a formal ceremony at the ESX headquarters off Africa Avenue (Bole Road), behind the Flamingo Restaurant. This milestone sets Ethio Fidelity apart as a trailblazer in a financial sector still dominated by institutions closely tied to banks and the public sector.

With a subscribed capital of 50 million Br and a paid-up capital of 14.2 million Br, five times the minimum regulatory threshold, and a settlement account at Zemen Bank, the firm positions itself as a well-capitalised, private-sector entrant into a tightly regulated space. The company’s 40 shareholders include a cross-section of professionals from finance, insurance, and trade, signalling broad private backing for Ethiopia’s capital market liberalisation.

CEO Anteneh Kassa, who assumed the helm four months ago, disclosed Ethio Fidelity’s strategic ambition, including the facilitatations of listings of manufacturing and commercial firms to enhance market depth and transparency.

Headquartered on Ras Abebe Aregay Street, Addis Abeba’s "Wall Street", Ethio Fidelity’s licensing comes as the seventh of such authorisation granted by the ESX.

However, what distinguishes the firm is the absence of any affiliated banking institution in its application. This independent route was praised by Tilahun E. Kassahun (PhD), CEO of the ESX, who sais, “Their resolve and capacity set them apart.”

Tilahun stated the importance of achieving such a license without institutional sponsorship, illustrating the regulatory rigor and operational readiness required.

The Authority, which oversees the regulatory framework of the capital market, welcomed the development while calling for a proactive investor outreach. Its Director General, Hana Tehelku, urged market actors to do more than merely wait for investor interest.

“Investors will not come knocking on your doors,” she said. “Even government officials have expressed interest in trading T-bills once the Exchange is more accessible.”

Ethio Fidelity’s entry marks a crucial step in operationalising the capital market reform agenda outlined by policymakers. It also raises hopes for broadening the investor base and improving market participation in a country where financial literacy remains low and where private-sector capital mobilisation is seen as essential to unlocking industrial growth.

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