Global consultancy and audit firm Deloitte has received the first securities investment advisor license issued by the Ethiopian Capital Market Authority (ECMA).
With over 457,000 employees operating across more than 150 countries, Deloitte provides audit, consulting, financial advisory, risk advisory, tax, and legal services. In fiscal year 2023, the firm generated global revenues of 64.9 billion dollars.
In obtaining its license from ECMA, Deloitte committed to leveraging its extensive global and African experience by working closely with ECMA to support the development of Ethiopia's capital markets.
Brook Taye (PhD), ECMA director general, stated the licenses are instrumental in creating a dynamic capital markets ecosystem. "In coming months, we expect to license Ethiopia's first investment bank, broker/dealer, and market maker," Brook noted.
The license allows Deloitte to offer mergers and acquisitions advisory, equity capital markets, and transaction advisory services to clients in Ethiopia, complementing its existing strategy, assurance, tax, and technology offerings.
Tewodros Sisay, Deloitte Africa Economic Advisory Leader, said the license underscores the firm's plan to help businesses navigate Ethiopia's evolving financial landscape. "With our expertise, resources, and network, we're well-placed to support clients' success," Sisay added.
