BREAKING: Parliament Passes Landmark Proclamation Allowing Foreign Banks in Ethiopia
Ethiopia’s Parliament has approved a new banking proclamation that paves the way for foreign banks to enter the country’s financial sector. The legislation permits foreign banks to purchase shares in local banks and, with case-by-case approval from the National Bank of Ethiopia, fully acquire them. This marks a major step in opening up Ethiopia’s banking industry to international investment.
@Ethiopianbusinessdaily
Ethiopia’s Parliament has approved a new banking proclamation that paves the way for foreign banks to enter the country’s financial sector. The legislation permits foreign banks to purchase shares in local banks and, with case-by-case approval from the National Bank of Ethiopia, fully acquire them. This marks a major step in opening up Ethiopia’s banking industry to international investment.
@Ethiopianbusinessdaily