Ethiopia - Obtain Stockbroker License

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Procedure

Apply In-Person:

1. To obtain a Stockbroker License the applicant has to approach National bank of Ethiopia contact link
2. An application form was provided to the applicant by the authorized officer.
3. Applicant has to fill-in all the necessary details in the application form.
4. Applicant must make sure to carry documents that are listed under “Required Documents” section of this page (Both photocopies and originals).
5. The applicant has to attach the photocopies along with the application form. And submit the application form.
6. The applicant should pay the appropriate fees as per the advice of the authority officer.
7. On completion of this process, Capital Markets Authority will notify the applicant on any outstanding issues 14 working days after submitting the application and if there are no issues, the Authority will issue to the applicant a license within 25 working days.
   

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Required Documents

• Application form.
• Memorandum and articles of association.
• Certificate of incorporation.
• Business plan complying with the requirements.
• A statement of the un-audited accounts for the period of accounting year ending not earlier than six months prior to the date of application and audited annual accounts for the preceding two years.
• A declaration by the directors as to whether after due enquiry by them in relation to the interval between the date to which the last accounts have been made and a date not earlier than fourteen days before the date of the application.
• A copy of the bank guarantee to be lodged with the securities exchange or the central depository (where applicable).
• A declaration by persons authorized as prescribed to accompany the application form.
  

Office Locations & Contacts

National Bank of Ethiopia
P.O Box: 5550
Tel: +251 115 517 430
E-mail: [email protected]
Fax: +251 115 514 588
Contact details link

Eligibility

No person is allowed to carry on or hold himself out as carrying on business as a Stockbroker unless he is approved as such by the National Bank of Ethiopia.

Fees

Fee for the procedure has to be paid as per the authority request.

Validity

The licence granted shall remain valid unless suspended or reversed by the Authority.

Documents to Use

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Sample Documents

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Processing Time

The processing time for this license takes up to 25 days upon meeting all the requirements.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• An application for a licence or for the renewal of a licence should be made to the Authority in the prescribed form and should be accompanied by the prescribed fee and in the case of an application for the renewal of a licence, may be made within three months but not later than one month prior to the expiry of the licence.
• The Authority may require an applicant to supply such further information as it considers necessary in relation to the application.
• A licence is only be granted if the applicant meets and continues to meet such minimum financial and other requirements as may be prescribed by the Authority.
• The Authority will not refuse to grant a licence without first giving the applicant or holder of a licence an opportunity of being heard.
  

Required Information

• Name of company
• Registered office
• Date of incorporation
• Address
• Email
• Location, address and telephone number of principal offices
• Location, address and telephone number of branch offices
• Details of capital structure
• Shareholders
• Directors
• Particulars of other directorship(s) of the directors and secretary
• Particulars of shares held by directors or secretary in other companies
• Business references
• Profile of the chief executive and key employees in the applicant company
• List the office facilities of the applicant
• State the exact nature of the activity to be carried on which obliges the applicant to apply for a licence.
  

Need for the Document

A Stockbroker is a person who carries on the business of buying or selling of securities as an agent for investors in return for a commission.

Information which might help

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Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

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