ECMA Extends Deadline for Public Companies’ Compliance Submissions

The Ethiopian Capital Market Authority (ECMA) has announced a one-month extension for publicly held companies to submit required regulatory documents, offering a final opportunity for compliance with the newly enacted Public Offer and Trading of Securities Directive No. 1030/2024.

The extension, granted in response to industry requests, pushes the deadline to April 9, 2025. This move underscores the Authority’s commitment to fostering transparency and investor protection as Ethiopia’s capital market takes shape.

Companies with over 50 shareholders—whether publicly listed or in the process of raising capital—are urged to submit key details about their securities. This includes the total number of shares issued, their valuation, historical offering details, and relevant promotional materials.

ECMA emphasized that failure to comply by the new deadline will have regulatory consequences, with any share issuance by non-compliant companies being considered as occurring after the directive’s effective date of November 14, 2024.

Hard copies of the required documents must be delivered to ECMA’s head office at Minaye Building, Addis Ababa, while digital copies should be sent via email.

The Authority reiterated that this submission does not equate to formal registration of existing securities. Companies will still need to complete the full registration process within a year from the directive’s enactment.