Deloitte Becomes First Securities Advisor Licensed in Ethiopia
Deloitte, a global consultancy and audit firm, has been granted the inaugural securities investment advisor license by the Ethiopian Capital Market Authority (ECMA).
The consultancy firm with a workforce of over 457,000 spanning 150+ countries, delivers audit, consulting, financial advisory, risk advisory, tax, and legal services. In fiscal year 2023, the firm achieved global revenues of $64.9 billion.
In securing its license from ECMA, Deloitte pledged to utilize its vast global and African expertise to collaborate closely with ECMA in advancing the development of Ethiopia’s capital markets.
Brook Taye (Ph.D.), 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.
Also speaking, 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”.
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.
