Ethiopia Issues Licensing Directives for Capital Market Service ProvidersEthiopia has issued a legal directive that will govern the licensing of capital market service providers as the nation seeks to consolidate the securities and exchange sector. Under the new regulations, the Ethiopian Capital Markets Authority will issue 15 different types of licenses to service providers. “It provides a comprehensive legal framework that will ensure the integrity and stability of the capital market,” said the director general of the Ethiopian Capital Market Authority, Dr. Brook Taye. The 150-page directive also outlines the responsibilities of various capital market service providers and their appointed representatives, strictly caging their activities within the licenses they sought for. Ethiopia’s decision to venture into capital markets will also allow investments from buoyant multinational companies strengthening the economy.
