That is about to change as the government’s recent efforts to liberalize the banking market in the country are coming into effect. With good execution, increased banking competition could help energize the Ethiopian financial sector and help with the country’s much-needed recovery. Financial liberalization is also likely to accelerate the spread of fintech solutions, whether it’s digital banking or mobile money solutions. With 75% of its population unbanked, the potential for growth in Ethiopian banking is immense. Change is coming to Ethiopian banking, bringing with it both risk and opportunity.

Source: Ethiopian News April 25, 2023 18:29 UTC