Africa-Press – Ethiopia. Addis Ababa January 9/2025 (POA)—A Memorandum of Understanding (MoU) was signed today between the National Bank of Ethiopia (NBE) and the Ethiopian Capital Market Authority (ECMA).
POA learned that the Memorandum of Understanding was signed by Governor of National Bank of Ethiopia, Mamo Mihretu and Director General of Ethiopian Capital Market Authority, Hana Tehelku.
This partnership represents a major step forward in the establishment and effective operation of securities depository, clearing, and settlement services in Ethiopia, it was learned.
Moreover, The MoU outlines a collaborative effort for the issuance and depository of electronic securities, dematerialization of paper-based securities, and provision of a strong foundation for secure and efficient securities clearing and settlement systems.
Ethiopian Capital Market Authority will regulate and oversee activities related to non-government securities, while NBE will operate the central securities depository (CSD) in line with agreed terms and conditions as per the Capital Market Proclamation.
This MoU reflects the shared vision of the two institutions of the country to drive economic growth, financial innovation, and a thriving capital market in Ethiopia.
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