[Thanks to Bayou Mekonnen for sending the proclamation]

PROCLAMATION NO. 1248 /2021

THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA CAPITAL MARKET PROCLAMATION

WHEREAS, it has become necessary to establish a capital market to support the development of the national economy through mobilising capital, promoting financial innovation, and sharing investment risks;

WHEREAS, it is necessary to adopt a legal framework for the regulation and supervision of the capital market to ensure the fairness, integrity, and efficiency of the market and protect investors;

WHEREAS, it is necessary to legislate uniform requirements for the regulation of issuers who desire to raise capital from public investors;

WHEREAS, it is necessary to adopt a legal framework for effective monitoring and surveillance of the capital market to detect, mitigate, and prevent systemic risk to the country’s financial system;

NOW, THEREFORE, in accordance with Article 55(1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows: