Ethiopia Begins Accepting License Applications From International Banks & Investors
09:25 26.06.2025 (Updated: 09:44 26.06.2025)
© telegram sputnik_africa
/ Subscribe
Ethiopia Begins Accepting License Applications From International Banks & Investors
The move aims to boost overseas investment and is part of a broader reform program supported by a $3.4 billion IMF agreement.
The reforms include floating its currency and restructuring $8.4 billion in debt.
In December, Ethiopia approved a law permitting foreign banks to establish subsidiaries, branches, representative offices, or acquire equity stakes in local banks.
However, a separate directive limits foreign strategic investors to a maximum 40% ownership stake in local banks.
Subscribe to @sputnik_africa
