By JAMES ANYANZWAMore by this AuthorRegional lender Equity Bank has set up a commercial representative office in Addis Ababa, Ethiopia, with plans to start operations in Africa’s fastest growing economy in July. Equity Bank, with more than 13.5 million customers and 289 branches across the region, has operations in Kenya, Uganda, Rwanda, Tanzania, South Sudan and the Democratic Republic of Congo. Equity Bank is listed on the Nairobi Securities Exchange and cross-listed on the Uganda Securities Exchange and Rwanda Stock Exchange. Ethiopia has 18 licensed commercial banks, two of which are state-owned: Commercial Bank of Ethiopia and Development Bank of Ethiopia. Currently, Ethiopia has allowed some foreign banks to open liaison offices in Addis to facilitate credit to companies from their countries of origins.

Source: Ethiopian News June 13, 2019 13:46 UTC