New opportunity for FDI
Ethiopian government declared its intention in opening the financial and telecom sector for the foreign and private sector. The financial sector is currently reserved for domestic investors only. The exclusion was extended to the Ethiopian born diaspora as well. However, in easing the current restrictions the government amended its banking business proclamation and allowed the diaspora to participate in the banking business. This move of the government boosted the foundation of new banks. Currently more than six commercial and interest free banks are under establishment.
Equally, in ending the government’s monopoly in the telecom sector, a new legislation is enacted and a regulator to the sector is under formation. If you are looking an expert in this particular area please contact us.