Ethiopian Capital Market Authority

Description

The Ethiopian Capital Market Authority (ECMA) is an autonomous federal regulatory body established under the Capital Market Proclamation No. 1248/2021 to oversee and develop Ethiopia’s emerging financial ecosystem. Its primary mandate is to ensure the existence of a transparent, efficient, and fair secondary market by regulating market actors, licensing investment banks and brokers, and protecting investors from systemic risks or fraudulent practices. By fostering the growth of the Ethiopian Securities Exchange (ESX), the Authority plays a pivotal role in mobilizing long-term capital, facilitating the divestiture of state-owned enterprises, and providing a structured platform for private companies to access equity and debt financing, ultimately driving the nation's transition toward a more modern, market-led economy.