AMN Plus-June 9, 2026
The Ethiopian Capital Market Authority (ECMA) has granted a Capital Market Service Provider (CMSP) license to United Capital Financial Services PLC, a subsidiary of United Capital Group Nigeria, making it the first foreign investment bank to establish a subsidiary in Ethiopia.
The license authorizes the company to operate under the Investment Banking category. The Authority has also approved the appointment of five Board Directors and licensed four Appointed Representatives within the company.
Issued on Friday, June 5, 2026, the license brings the total number of licensed CMSPs in Ethiopia to 18 and the number of investment banks to 7, reflecting the tangible and continuous development in the operationalization and expansion of the countryโs capital market.
At the official licensing ceremony, the Director General Hana Tehelku noted that the entry of a Pan-African institution such as United Capital marks a historic milestone in the development of Ethiopiaโs capital market, further indicating that the event demonstrates strong confidence in the credibility of the countryโs emerging financial ecosystem and the direction of ongoing reforms.
She noted that such developments reflect growing recognition of Ethiopiaโs market potential and institutional progress, and can contribute to strengthening the depth, capacity, and regional integration of the market, while underscoring the importance for licensed service providers to adhere to the highest standards of market conduct, governance, and regulatory compliance, according to Ethiopian Capital Market Authority
