The Ethiopian Capital Market Authority (ECMA) has officially expanded the country’s financial landscape by licensing three new Capital Market Service Providers (CMSPs). The announcement, made today at ECMA’s head office, increases the number of licensed capital market service providers from eight to eleven.

The New License Holders

The newly approved institutions and their respective categories are:

• First Addis Investment Bank PLC – Investment Bank
• Ignite Capital PLC – Securities Investment Advisor
• Zuri Capital S.C. – Securities Investment Advisor

With these additions, Ethiopia’s capital market is steadily moving toward greater depth, diversity, and inclusiveness.

During the licensing event, Director General of ECMA, Hana Teheklu, congratulated the new licensees and highlighted their importance in advancing Ethiopia’s capital market. She encouraged the firms to actively contribute to building a financial system that is transparent, inclusive, and resilient.

About ECMA

The Ethiopian Capital Market Authority is mandated to foster the development and regulation of the capital market under Article 3(1) of the Proclamation. Operating as an independent regulatory body, ECMA reports directly to the Prime Minister’s Office. The authority is tasked with enhancing investor confidence, mobilizing capital, and promoting sustainable economic growth through effective regulatory oversight.

Looking Ahead

The licensing of these new players signals Ethiopia’s continued commitment to strengthening its capital market infrastructure. Market observers note that the entry of new investment banks and advisors could bring more opportunities for investors, broaden access to capital, and set the stage for a more competitive financial sector.