Prime Capital S.C. acquired investment banking license in the non-banking category from Ethiopian Capital Market Authority(ECMA).
The license includes approval of 9 board of directors and 4 appointed representatives within Prime Capital Investment bank by the capital market authority.
As of today the total number of ECMA licensed capital market service providers reached 17 – here’s a complete list of the licensed CMSP’s.
Speaking at the licensing ceremony, Director General of the ECMA, Hana Tehelku, addressed the role of investment banks in Ethiopian capital market and urged licensed capital market services providers to prioritize investor interests and uphold market integrity.
Hana Tehelku, Director General of the ECMA, in her address to service providers:
“Investment Banks [play a] critical role in the development of the capital market and investor protection by facilitating capital market transactions and equipping investors to make an informed decision.”
Furthermore, she stated:
“I urge licensed capital market service providers to uphold corporate governance standards, market integrity, prioritize investor interests, and ensure compliance with capital market regulatory frameworks.”