94Ha ViewpointThe National Bank of Ethiopia (CBET) announced on June 25 that the country’s banking industry is open to foreign banks and investors for the first time, allowing them to participate in the country’s banking business by setting up subsidiaries, branches or representative offices.
According to a statement issued by the CBET, starting today, foreign banks and investors can apply for banking licenses from the CBET. The CBET said it hopes this move will bring more investment and competitiveness to Ethiopia and help improve the service level, efficiency and inclusiveness of the country’s banking industry.
