After three months, the Ethiopian Capital Market Authority said it would begin awarding licenses to capital market service providers. The Authority stated in February of this year that it is working on licensing capital market service companies within six months.
Following the passage of the Capital Market Proclamation in 2021, the Capital Market Authority has been developing regulatory guidelines, directives, and minimum admissions criteria for those seeking to be certified as capital market service providers.
The Authority is seeking public feedback on three draft Directives: The recognition and Self-Regulatory Organizations Directives, the Directive on Licensing and Operating Securities Exchanges and Trading Platforms Directive, and Capital Market Service Providers Licensing and Supervision Directive. Preparations for the stock market’s launch are also ongoing.