Wednesday, January 18, 2023
- Advertisement -
- Advertisement -
NewsEthiopia adopts new policy to liberalize banking sector

Ethiopia adopts new policy to liberalize banking sector

The Council of Ministers approved a new policy that will open up the banking industry for foreign competition.

The banking industry has been closed to foreigners, despite the desire of multinationals to join the market.

Known for his liberalization pushes, Abiy has been pledging to open up the sector since he assumed power in 2018.

It was however a decision challenged by managers of banks who want the sector to remain closed over competition fears.

- Advertisement -

Subscribe

Popular

More like this
Related

Gold exports dropped 59% to 3-year low

One of Ethiopia’s major exports, gold, generated close to...

Hong Kong manufacturer leaves Bahir Dar Industry Park over AGOA market loss

-It is looking for buyers to sell machineries - It...

Cash-strapped Dire Dawa admin demands regional status

Charter revision underway Members of Parliament (MP) representing Dire Dawa...

EU demands accountability for war, Ethiopia re-engagement

Pledges to repair diplomacy The European Union (EU) has asked...