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Capital Markets

Overview

Ethiopia’s Capital Market landscape is evolving rapidly with the establishment of the Ethiopian Securities Exchange (ESX) and the regulatory framework under the Capital Market Proclamation No. 1248/2021. At DABLO Law Firm, we stand at the forefront of this transformation, offering strategic, future-ready legal solutions for businesses, investors, and financial institutions.

Our Capital Market Practice is designed to help clients unlock opportunities in securities trading, public offerings, and investment advisory services, while ensuring full compliance with directives issued by the Ethiopian Capital Market Authority (ECMA).

We provide independent legal opinions for issuers and underwriters, ensuring full compliance with the Ethiopian Capital Market Authority (ECMA) requirements and the Ethiopian Securities Exchange (ESX) listing rules. Our team offers regulatory licensing and market entry advisory, guiding brokers, dealers, investment advisers, and custodians through the licensing process under Ethiopian law.

In addition, we deliver end-to-end support for public offerings and listings, including initial public offerings (IPOs), rights issues, and bond listings, with expertise in drafting and vetting disclosure documents. To strengthen governance, we also provide corporate governance and compliance advisory, helping clients establish robust governance frameworks, meet disclosure obligations, and manage risks effectively for listed entities.

At DABLO, we don’t just follow the market—we help shape it.

Work Highlights

  • Independent Legal Advisor to Zemen Bank
    DABLO is currently serving as Independent Legal Advisor for Zemen Bank’s registration with the Ethiopian Capital Market Authority (ECMA) and its listing on the Ethiopian Securities Exchange (ESX).
  • Independent Legal Advisor to Awash Bank
    We acted as Independent Legal Advisor for Awash Bank’s ECMA registration, ensuring full compliance with capital market regulations and supporting the bank’s strategic positioning for future participation in Ethiopia’s securities market.
  • Conducted a comprehensive legal analysis of capital market participants, outlining classifications and licensing requirements for entities seeking to operate as capital market actors in Ethiopia
  • Provided legal and regulatory support to a firm applying for an investment advisory license under ECMA’s Licensing and Supervision Directive, including corporate restructuring, governance alignment, and compliance documentation.
  • The firm has assisted an international corporation in its efforts to obtain an investment advisory license from the Ethiopian Capital Market Authority.  

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