Ethiopia’s Capital Market Expands as ECMA Licenses Three New Financial Firms
The Ethiopian Capital Market Authority (ECMA) has officially licensed three new service providers, strengthening the nation’s financial infrastructure. The new entries, announced by Director General Hana Tehelku on July 10, 2026, increase the total number of licensed capital market service providers in Ethiopia to 21.
The New Licensees
- PrizeWorth Investment Bank S.C. (Investment Bank)
- BluFin Capital Advisory PLC (Securities Investment Advisor)
- Lumina Capital PLC (Securities Investment Advisor)
In addition to these core licenses, the ECMA confirmed the appointment of 10 Appointed Representatives and 15 board directors, ensuring the new firms meet required corporate governance standards.
This expansion significantly deepens the capacity of Ethiopia’s financial sector, bringing the total number of investment banks to eight and security investment advisors to 11. The move is part of the ECMA’s broader strategy to professionalize capital formation and broaden access to specialized financial advisory services.
During the licensing ceremony, Director General Tehelku underscored the importance of integrity and investor protection. As these firms begin operations, they are expected to play a critical role in facilitating the next wave of corporate listings and public market participation within the maturing Ethiopian economy.
