Ethiopia: Deloitte Granted First Securities Advisor License in Ethiopia

Deloitte, a renowned global consultancy and audit firm, has been awarded the inaugural securities investment advisor license by the Ethiopian Capital Market Authority (ECMA).

With a workforce exceeding 457,000 professionals across 150+ countries, Deloitte specializes in delivering audit, consulting, financial advisory, risk advisory, tax, and legal services. In fiscal year 2023, the firm reported global revenues of $64.9 billion.

Securing the license from ECMA marks a significant milestone for Deloitte, as it commits to leveraging its extensive global and African expertise to collaborate closely with ECMA in advancing the development of Ethiopia’s capital markets.

Brook Taye (Ph.D.), Director-General of ECMA, emphasized the importance of these licenses in fostering a dynamic capital markets ecosystem. He stated, “In the coming months, we expect to license Ethiopia’s first investment bank, broker/dealer, and market maker,” illustrating the agency’s forward-looking approach.

Tewodros Sisay, Deloitte Africa Economic Advisory Leader, highlighted the significance of the license, stating, “The license underscores the firm’s commitment to assisting businesses in navigating Ethiopia’s evolving financial landscape. With our expertise, resources, and network, we are well-positioned to support clients’ success.”

This license empowers Deloitte to provide mergers and acquisitions advisory, equity capital markets, and transaction advisory services to clients in Ethiopia. These services complement Deloitte’s existing portfolio, which includes strategy, assurance, tax, and technology offerings.