Columnists Intel for banks eyeing EthiopiaA signage in Moyale near the Kenya-Ethiopia border. There are 19 licensed commercial banks, out of which two, namely Commercial Bank of Ethiopia and Development Bank of Ethiopia, are State-owned. The two State-owned banks also serve as policy banks. Apart from having to battle the policy banks, Ethiopia is an inward-looking society (and largely anti-foreign), which is largely historical. As a result, a successful entry strategy for any foreign bank requires a very localised model that incorporates local knowledge.

Source: Ethiopian News April 18, 2023 21:22 UTC