Ethio Fidelity Securities S.C. has become the first privately formed and unaffiliated trading firm to secure a licence from the Ethiopian Capital Market Authority (ECMA), joining the Ethiopian Securities Exchange (ESX) as a fully licensed member.

The regulatory approval, granted on Wednesday afternoon, makes Ethio Fidelity the third firm licensed to trade on the ESX, which was launched in 2024 as part of Ethiopia’s broader economic reform program. Unlike the previous two licensees, Ethio Fidelity operates without ties to any commercial bank or state-owned financial institution.

The company enters the market with 50 million birr in paid-up capital and a shareholder base of 40 individuals drawn from the financial, insurance, and trade sectors.

Speaking at the licensing ceremony held at ESX headquarters in Addis Ababa, ECMA Director General Hana Tehelku encouraged licensed dealers to play an active role in engaging investors and building momentum in the country’s fledgling capital market. She also highlighted increasing interest in government securities trading from both public and private actors.

Ethio Fidelity is led by Chief Executive Anteneh Kassa, who assumed the post four months ago. The firm is headquartered on Ras Abebe Aregay Street in the capital and has indicated plans to facilitate listings for companies in the manufacturing and commercial sectors.