ADDIS ABABA, November 3, 2025 – The Ethiopian Capital Market Authority (ECMA) today announced it has granted a Capital Market Service Provider (CMSP) license to ProInvest Capital PLC, marking another step in the rapid formation of the nation’s new financial ecosystem.

The license, officially issued today, authorizes ProInvest Capital to operate in the Securities Investment Advisor category. Alongside the firm’s license, the ECMA has also approved the licensing of four (4) Appointed Representatives who will work within ProInvest Capital.

This latest addition brings the total number of licensed capital market service providers in Ethiopia to twelve (12), a significant milestone that underscores the growing momentum of the emerging market.

Growing Ranks of Financial Intermediaries

ProInvest Capital’s license comes on the heels of a recent expansion just last month. In early October 2025, the ECMA licensed three other firms—Ignite Capital, Zuri Capital, and First Addis Investment Bank—which brought the total number of providers from eight to eleven. ProInvest’s entry as the twelfth provider signals sustained interest from the private sector in playing a role in the new market.

As a licensed Securities Investment Advisor, ProInvest Capital is now authorized to provide a range of critical services, including:

• Offering financial advice and guidance to individuals and institutions.
• Assisting companies in preparing for public offerings and listings on the Ethiopian Securities Exchange (ESX).
• Providing financial planning, transaction consulting, and merger and acquisition support.

The licensing of these advisory firms is considered a crucial prerequisite for a fully functional market. With the ESX already live and trading government securities, corporate entities are increasingly seeking expert guidance from licensed advisors to navigate the new regulatory landscape and prepare for future listings of stocks and bonds.

Building a Regulated Framework

During the licensing, ECMA Director General Hana Tehelku presented the certificate to ProInvest Capital’s representatives. In her remarks, she emphasized the authority’s focus on building a secure and reliable market.

Tehelku noted the importance of licensed advisors in providing services that adhere to the established regulatory framework. This structured approach is designed to ensure transparency, protect investors, and build long-term confidence in the market.

In its official statement, the Ethiopian Capital Market Authority congratulated ProInvest Capital and reiterated its “unwavering commitment to fostering a strong, inclusive, and resilient capital market that supports sustainable economic growth and investor protection in Ethiopia.”

The continued licensing of new service providers is a key pillar of ECMA’s strategy to build the necessary infrastructure for a vibrant market ahead of the first-ever listings of corporate equities and bonds on the ESX.