Foreign investors in banking sector will help the country boost its economy. The Government of Ethiopia has decided to amends laws to allow foreign investments in the country’s banking sector, reported Reuters citing the Prime Minister’s office. Ethiopia, one of the key economies in sub-Sahara Africa, has been attracting foreign investors in various sectors including telecommunications, transportation and aviation. In September 2021, Ethiopia’s Bank of Abyssinia (BoA) collaborated with Xpert Digital to implement Temenos Infinity to digitise its banking services and accelerate customer growth. Through the digital banking platform, BoA planned to revamp its retail mobile banking and SME digital banking services, to enable a unified, omnichannel experience.

Source: Ethiopian News September 05, 2022 22:08 UTC