Deloitte, a global professional services giant, has secured the first operating license for the Ethiopian Securities Exchange (ESX).This isn't Deloitte's first foray into the Ethiopian market. After a six-year absence, it recently reopened its office, collaborating with local firm HST Consulting Plc on various projects across different sectors.The newly acquired license allows Deloitte to act as an investment advisor on the ESX. Accordingly, the company would be offering investment advice, issuing market analysis reports, and adhering to other regulations set by the Authority.This is the first license granted since the Ethiopian Capital Market Authority (ECMA) opened applications late last year. According to Brook Taye, Director General of ECMA, complete applications are processed within a month.Deloitte's experience in Ethiopia includes a prior valuation of Ethio Telecom, a major public corporation, ahead of its partial privatization two years ago.The ESX, overseen by ECMA, will offer a range of licenses for market participants, including securities brokers, investment advisors, investment banks, and more. (ICE ADDIS ABEBA)

Fonte notizia: capital