Is Ethiopia Ready to Welcome Foreign Banks Before 2025 Ends?
Foreign Banks are Coming. Ethiopia’s history with foreign banks is longer than you think. As we open up once more in 2025, the big question remains, Is Ethiopia ready this time?
In a major shift for Ethiopia’s financial landscape, National Bank of Ethiopia (NBE) Governor Mamo Mihretu announced that foreign banks are expected to begin operations before the end of 2025. Speaking at the midweek Ethiopian Finance Forum, Mihretu described this as a key milestone in the country’s recent policy reforms aimed at liberalizing the financial sector.
While stopping short of naming the banks preparing to set foot on Ethiopian financial soil, Mihretu emphasized that the groundwork has already been laid. “Integrating foreign financial institutions is one of NBE’s top priorities,” he declared. Forum discussions also explored the potential implications for Ethiopia’s banking system from increased competition to heightened efficiency and innovation.