The Ethiopian Capital Market Authority (ECMA) has issued a stern warning to the public about the existence of an unauthorized entity operating under the name Takilo “Investment Bank.” The entity falsely claims to be Ethiopia’s first investment bank providing capital market services, yet it is doing so without the required license, violating both national regulations and investor protection laws.

ECMA has made it clear that Takilo “Investment Bank” has not been granted the necessary license to operate as an investment bank or to offer any capital market services in Ethiopia, as mandated by the Capital Market Service Providers Licensing and Supervision Directive No. 980/2024. The entity is, therefore, operating illegally and is not authorized to engage in any capital market activities.

In accordance with the Capital Market Proclamation No. 1248/2021 and the licensing directive, only entities that are fully registered and regulated by ECMA are allowed to provide capital market services within the country. As a result, ECMA is urging all individuals and businesses to avoid engaging with Takilo “Investment Bank” or any similar entity that lacks proper authorization.

Engaging with these unauthorized providers poses a significant risk to investors, as they are not subject to regulatory oversight that ensures market integrity and protects investor interests. ECMA strongly advises the public to verify the licensing status of any capital market service provider before entering into any agreements or investments.

The authority also calls on the public to remain vigilant, exercise caution, and conduct thorough due diligence to protect themselves from fraudulent activities.