Ethiopia’s liberalisation paves way for banking consolidation
Reforms will give central bank power to supervise foreign lenders as country lifts barriers to investment
When Mamo Mihretu, the governor of the National Bank of Ethiopia (NBE), spoke to Central Banking back in October, he hinted that the country’s banking proclamation bill would be ratified “within the next two months”.
And so it has proved. On December 17, the legislation was passed by an overwhelming majority in the lower house of parliament.
Prime minister Abiy Ahmed tabled the bill with a view to realising a host of measures that would complement his wider suite of economic reforms. Ethiopia’s
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