Deloitte Secures Ethiopia’s First Securities Investment Advisor License

ADDIS ABABA – Deloitte, an international audit and consultancy firm, has become the first licensed securities investment advisor in Ethiopia.

Ethiopian Capital Market Authority issued the license ahead of the launch of the secondary market scheduled for the final quarter of the current fiscal year.

This license places Deloitte at the forefront of Ethiopia’s rapidly evolving capital market landscape, the regulator said.
The move has been warmly welcomed by the consultant firm.

“We are thrilled to be the first licensed securities advisor in Ethiopia,” said Deloitte Africa Economic Advisory Leader Tewodros Sisay.

He added: “This achievement underscores our commitment to the country’s capital market growth and demonstrates our dedication to supporting our clients in the region.

“With our unparalleled expertise, resources, and global network, we are well-positioned to support businesses in Ethiopia to thrive and succeed in today’s fast-paced and ever-changing business environment.”

The debut license enables Deloitte to offer its services, including mergers and acquisitions (M&A), equity capital markets, and transaction advisory services, to clients in Ethiopia.

These services will complement Deloitte’s broad suite of offerings in strategy, assurance, risk advisory, and technology transformation services, per ECMA.

Brook Taye, Director General of the Authority has called the issuance of the license an “important milestone in Ethiopia’s journey to a dynamic capital market ecosystem”.

“This is the first of many milestones to come. In the next few weeks and months, we look forward to seeing the first investment bank, the first broker/dealer, the first market maker acquire a license to operate in our market,” he continued.

“With the launch of the Ethiopian Securities Exchange on the horizon and the first Public Offering of a state-owned enterprise, the licensing of Deloitte as an investment advisor will allow us to expedite the development of the capital market in Ethiopia.”

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