Stock Market in Ethiopia.
Reference: Capital-Market-Proclamation of Ethiopia-No.1248-2021
How Stock Market Works?
“Publicly Traded Security” means a security traded on a securities exchange or through over-the-counter markets;
Regulated Capital Market Activities and Services
The following capital market activities shall be regulated under this Proclamation:
- a) Buying, selling and dealing in securities,
- b) Investment advice,
- c) Underwriting,
- d) Fund management,
- e) corporate finance advice relating to acquisitions, mergers, divestures, combinations and other activities that involve buying, selling, and exchanging securities,
- f) Custodial services,
- g) Collective investment schemes,
- h) Credit rating services, and
- i) any other activity deemed by the Authority as a regulated activity pursuant to this Proclamation.
Regulated capital market activities shall only be undertaken by the following persons who hold a capital market services license for that activity:
- a) Securities Broker,
- b) Investment Adviser,
- c) Collective Investment Scheme Operator,
- d) Investment Bank,
- e) Securities Dealer,
- f) Custodian,
- g) Market Maker,
- h) Credit Rating Agency,
- i) Appointed representative of a capital service provider, and
- j) Any person who conducts or participates in any activity that is deemed by the Authority to be an activity in securities to be regulated in accordance with the purposes of this Proclamation.