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Ethiopian Capital Market Authority

About ECMA:

The Ethiopian Capital Market Authority (CMA) stands as a pivotal institution mandated to foster the development and regulation of the capital market within the Federal Democratic Republic of Ethiopia. Established under Article 3(1) of the Proclamation, the CMA operates as an independent regulatory body with its own juridical identity, reporting directly to the Prime Minister of Ethiopia. Embracing a multifaceted approach, the CMA is committed to enhancing investor confidence, facilitating capital mobilization, and promoting sustainable economic growth through robust regulatory frameworks and strategic initiatives.

ECMA Mission:

The CMA is dedicated to fostering the growth and integrity of the Ethiopian capital market, ensuring investor protection, market transparency, and financial stability. Through effective regulation, advocacy, and capacity-building endeavors, the Authority endeavors to create an enabling environment conducive to investment, innovation, and inclusive economic development.

ECMA Key Priorities:

Capital Market Authority Formation: Spearheading the establishment and operationalization of the CMA, including organizational structure, staffing, and procedural frameworks to ensure regulatory effectiveness and efficiency.

Regulatory Framework Development: Undertaking comprehensive regulatory framework development to govern all aspects of the capital market, encompassing securities issuance, trading, disclosure requirements, investor protection, and market surveillance.

Capacity Development and Investor Education: Initiating targeted programs aimed at enhancing the knowledge, skills, and awareness of market participants, investors, and stakeholders. These initiatives aim to empower investors with the necessary tools and insights to make informed investment decisions while fostering a culture of financial literacy and awareness.

Long-Term Capital Market Development Roadmap: Formulating a strategic roadmap delineating the long-term vision, objectives, and actionable strategies for the sustainable development and expansion of the Ethiopian capital market. This roadmap aims to outline key milestones, policy interventions, and market infrastructure enhancements necessary to propel the market forward.

Enabling Environment: Conducting a comprehensive review of institutional investor regulations, macro-financial policies, and tax frameworks to identify impediments and streamline regulatory processes. Creating an enabling environment conducive to capital market growth, liquidity, and investor participation.

Setting up the Exchange: Providing extensive support to the Ethiopian Securities Exchange (ESX) Project Team in establishing and operationalizing the national securities exchange. This includes facilitating infrastructure development, market infrastructure integration, regulatory oversight, and capacity-building initiatives to ensure the smooth functioning and integrity of the exchange.

ECMA Core Values:

Integrity: Upholding the highest standards of ethical conduct, transparency, and accountability in all regulatory activities.

Innovation: Embracing innovation and technology to enhance market efficiency, accessibility, and resilience.

Collaboration: Fostering collaboration and partnerships with government agencies, market participants, and international stakeholders to achieve common objectives.

Investor Protection: Prioritizing investor protection through robust regulatory frameworks, market surveillance, and enforcement mechanisms.

Market Development: Commitment to fostering the sustainable growth and development of the Ethiopian capital market as a catalyst for economic progress and prosperity.

ECMA Address and Contact Information

Address: Minaye Corporate Building 15th Floor, Flamingo Area, Kirkos Addis Ababa, Ethiopia

Phone: +251 115578250 | +251 115578310

Email Address: communications@ecma.gov.et

Website: https://ecma.gov.et

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Ethiopian Capital Market Authority

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