Addis Ababa:Ethiopia's comprehensive financial-sector reforms are attracting increasing interest from foreign banks, according to Martin Rohner, Executive Director of the Global Alliance for Banking on Values.
According to Ethiopian News Agency, Rohner highlighted that the National Bank of Ethiopia's (NBE) recent changes in capital market, monetary policy, and foreign-exchange regulations are crucial developments. These reforms are fostering a more appealing environment for foreign banks and direct investment in the country.
Rohner noted the initial interest from foreign banks looking to enter the Ethiopian financial market, describing it as encouraging. He commended the NBE for its proactive engagement with the private sector, emphasizing the importance of adapting regulations to meet the needs of financial institutions.
The reforms are also positively impacting domestic banks, making business conditions more favorable and contributing to increased economic activity. Rohner pointed out Ethiopia's large, untapped financial market, especially in digital financial inclusion, where foreign financial institutions could play a significant role.
He believes that the entry of foreign players will enhance competition, improve access to finance, and help unlock Ethiopia's economic potential. Rohner expressed optimism about the country's future, noting that the policy framework is well-aligned with its economic vision.
