According to Brooke Taye , executive director of Ethiopia Capital Market Authority who spoke with the government-run Ethiopian News Agency, a number of tasks have been completed by the authority in three months since its board and responsibilities were chosen.
He explained that because Ethiopia has never had a capital market, it is now developing the legislative frameworks and regulations and amassing the resources necessary to grant licenses to the market’s industrial participants.
The director noted that a huge number of actors will be needed when the market starts.
He added that several guidelines have been developed for granting licenses to investors participating in the capital market and other actors in the field. According to the National Bank’s standards, the nation will start providing licenses to both domestic and foreign investors within three months.
The director claims that although there is no law prohibiting foreign investors from taking part in Ethiopia’s capital market system.
By creating a fair, efficient, and transparent transaction system through the issuance of document investments, the authority has been granted the power to create a complete capital market environment.He added .
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