Ethiopia - Obtain Fund Manager License

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Procedure

Apply In-Person:

1. The obtain a fund manager license the applicant has to approach National bank of Ethiopia link
2. The applicant will provide an application from the capital market authority 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. After submitting the application form the officer advices to pay the appropriate fees for the license.
6. On completion of this process, the Authority will notify the applicant on any outstanding issues 14 working days after lodging an 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

• Completed application form
• Certificate of incorporation
• Memorandum and articles of association
• 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 an investment adviser unless he is approved as such by the Capital Markets Authority.

Fees

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

Validity

The license granted shall remain valid unless suspended or revoked by the Authority.

Documents to Use

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Sample Documents

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Processing Time

Processing time for obtain fund manager license is up to 20 to 25 working days.

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 may grant a licence to such conditions or restrictions as it thinks fit and the Authority may, at any time by written notice to a licence holder, vary any condition or restriction or impose further conditions or restrictions.
  

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
• 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
  

Need for the Document

A fund manager is a manager of a collective investment scheme, registered venture capital company or an investment adviser who manages a portfolio of securities in excess of an amount prescribed by the Authority from time to time.

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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