The Ethiopian Capital Market Authority (ECMA) has issued a Capital Market Service Provider (CMSP) license to Gadaa Securities Dealer S.C., authorizing the firm to officially operate as a Securities Dealer in Ethiopia’s newly developing capital market ecosystem.

The license, granted on December 24, 2025, marks another significant milestone in Ethiopia’s capital market reform process. Alongside the licensing approval, ECMA also endorsed the registration of four Appointed Representatives and confirmed the appointment of six Board Directors, completing a crucial governance requirement for the firm to begin operations.

With this latest approval, the total number of licensed Capital Market Service Providers in Ethiopia rises to 14, while Gadaa Securities becomes the second institution licensed as a Securities Dealer in the country. This underscores the growing pace of financial sector liberalization following Ethiopia’s landmark Capital Market Proclamation and the ongoing establishment of key capital market infrastructure.

Securities dealers play a critical role in capital markets by facilitating the buying and selling of financial instruments, supporting liquidity, and helping channel investment capital to productive sectors of the economy. As Ethiopia moves toward operationalizing its securities exchange, licensed dealers like Gadaa Securities are expected to provide essential market intermediation services to investors, companies, and financial institutions.

In its announcement, ECMA congratulated Gadaa Securities Dealer S.C. and reaffirmed its commitment to nurturing a strong, inclusive, and resilient capital market. The Authority emphasized that deepening investor participation, ensuring regulatory stability, and protecting investors remain central to its mandate as Ethiopia builds a modern financial market system.

The development comes amid heightened anticipation around the launch of the Ethiopian Securities Exchange (ESX), increasing private sector appetite for new financing channels, and broader government efforts to diversify Ethiopia’s economy through financial innovation and capital market development.