Assessing Regulatory Challenges for Intra-Africa Capital Market Trading: The Case of Ethiopia
| dc.contributor.advisor | Martha Belete | |
| dc.contributor.author | Tewodros Tena | |
| dc.date.accessioned | 2026-05-22T08:10:28Z | |
| dc.date.available | 2026-05-22T08:10:28Z | |
| dc.date.issued | 2025-05-01 | |
| dc.description.abstract | This study assesses the legal and regulatory challenges that limit Ethiopia’s participation in intra-Africa cross-border capital market trading, which is the fundamental element for regional economic integration. Ethiopia has established key institutions to fully operationalize its capital market, including the Ethiopian Capital Market Authority (ECMA), the Ethiopian Securities Exchange (ESX), the Ethiopian Central Securities Depository, and other service providers. This development is marked as a substantial achievement in designing and implementing an effective capital market. Following the enactment of the Ethiopian Capital Market Proclamation No. 1248/2021, other enabling directives were legislated. However, these legal frameworks lack sufficient specific provisions or other separate laws for regulating cross-border securities trading that include foreign securities registration, listing requirements, and compliance mechanisms. As learned from the experience of the best practices of Kenya, Nigeria, and Morocco, which benefited from robust regulations, regional integrations, like the African Exchanges Linkage Project (AELP), and the Pan-African Payment and Settlement System (PAPSS), this study emphasizes the need for harmonized legal standards and international cooperation. Additionally, it identifies the economic benefits of cross-border capital market trading in the context of Ethiopia as an emerging market, such as improving market liquidity, expanding investor base, reduction of reliance on domestic financing, while addressing risks like fraud and money laundering. Finally, the paper recommends the enactment of laws that address detailed issues for hosting and participating in cross-border capital market trading, joining regional integrations, integrating with PAPSS, revising Ethiopia’s tax laws, and expanding bilateral agreements to create a competitive and strong Ethiopian capital market | |
| dc.identifier.uri | https://etd.aau.edu.et/handle/123456789/8100 | |
| dc.language.iso | en | |
| dc.publisher | Addis Ababa University | |
| dc.subject | Intra-Africa Capital Market Trading | |
| dc.subject | Cross-border Securities Trading | |
| dc.subject | Ethiopian Capital Market | |
| dc.subject | Regulatory Challenges | |
| dc.subject | Legal Framework | |
| dc.subject | Regional Economic Integration | |
| dc.title | Assessing Regulatory Challenges for Intra-Africa Capital Market Trading: The Case of Ethiopia | |
| dc.type | Thesis |