ECMA (Ethiopian Capital Market Authority)

The Ethiopian Capital Market Authority (ECMA) is the regulatory body responsible for supervising Ethiopia's capital markets. ECMA sets licensing requirements, disclosure standards, and compliance expectations for market participants — including fund managers, issuers, and intermediaries operating in private and public capital formation. For startups and investors, ECMA compliance means maintaining auditable records, meeting disclosure obligations, and operating within approved market frameworks as Ethiopia's private capital infrastructure matures.