Egypt’s Commercial International Bank (CIB) plans to open a representative office in Ethiopia at the end of this month. Though the country does not yet grant licenses to foreign financial institutions, CIB is opening a branch office in Addis Abeba. “We believe the government is working to change these laws soon enough, and foreign banks will be allowed to operate with greenfield licenses or through the acquisition of local banks,” said the Bank’s chief operating officer, Mohamed Sultan. The Bank has been eyeing potential African markets for the past two years and is also considering opening an office in Kenya. It has a network of 41 correspondent banks, including financial institutions, in Africa.
October 24 , 2020
Officials at the National Bank of Ethiopia (NBE) often like to remain on the fence wh...
October 16 , 2020
The massive infestation of desert locusts that farmers in Ethiopia are faced with is...
October 10 , 2020
Lawmakers from the House of Federation and parliament sat feet apart from one another...
October 3 , 2020
Mere days after the first case of the Novel Coronavirus (COVID-19) was reported in Et...
October 17 , 2020 . By MAYA MISIKIR
Kemise Wereda suddenly grew dark in the middle of the day last month. The sun could barely be seen anymore. On most other years, this would...
October 10 , 2020
Lawmakers from the House of Federation and parliament sat feet apart from one another, gathering not in t...
October 3 , 2020
Over a pond not far from Mesqel Square, participants eagerly awaiting the annual festival of Irrecha gathered along the banks in white tradi...
October 3 , 2020
Mere days after the first case of the Novel Coronavirus (COVID-19) was reported in Ethiopia, schools acro...
