What is an investment bank in Ethiopia allowed to do?
Licensed intermediaries that help Ethiopian companies raise capital and bring securities to market under ECMA rules.
In Ethiopia's market an “investment bank” is a specific licensed role, not just a name. Under ECMA's Capital Market Service Providers Licensing and Supervision Directive (No. 980/2024), investment banks are a category of capital market service provider with their own eligibility and licensing requirements (Part Seven of the Directive).
Their authorised activities centre on helping companies raise capital — including underwriting, where the investment bank commits to buy, or find buyers for, a securities issue. They must meet capital and conduct requirements and follow the Directive's code of conduct.
ECMA has already licensed several investment banks and other providers — for example Prime Capital and United Capital — as the market opens.
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Educational information drawn from official ECMA, ESX and NBE documents — not investment or legal advice. For the authoritative, current detail, open the sources above or ask Mehaleq.