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ADDIS ABABA – Deloitte has been licensed to operate as an investment banking service provider in Ethiopia’s capital market, making it the second foreign entity to secure the permit.
The Ethiopian Capital Market Authority (ECMA) announced the granting of the investment bank license to D and T Ethiopia Management Consulting Plc or D and T Ethiopia, a subsidiary of Deloitte, on Friday.
The move, according to the nation’s capital market regulator, follows “a rigorous license application assessment”. It also comes two years after the global auditing and consulting firm reentered the Ethiopian market as a securities investment advisor.
Deloitte East Africa successfully applied for the license out of its Nairobi office which also paved the way for ECMA to make the debut license issuance in April 2024.
“After operating as a Securities Investment Advisor, D and T Ethiopia is now authorized to provide non-brokerage Investment Banking services,” the capital market authority said in a statement.
The new license enables Deloitte Ethiopia to offer services including facilitating mergers and corporate organizations to clients.
“The transition of D and T Ethiopia from a Securities Investment Advisory to an Investment Bank demonstrates the market’s growth capacity and market trust,” the sector regulator noted.
The Authority, however, stressed that the new license does not allow the firm to act as a Securities Broker or Securities Dealer.
The license upgrade makes Deloitte just the second foreign entity authorized to provide investment banking services, and increases the total number of licensed Investment Banks to nine (9).
United Capital Financial Services Plc, a subsidiary of United Capital Group Nigeria, became the first licensed foreign investment bank in Ethiopia after securing a Capital Market Service Provider license from regulators on 5 June, 2026.
ECMA Directors described the United Capital’s entry to Ethiopia as “a historic milestone” in the development of the country’s nascent capital market, and “demonstrates strong confidence in the credibility” of its emerging financial ecosystem.
