The Prime Minister Abiy Ahmed’s administration announced that the banking sector is open for expatriate investors. It is a decision from the “council of ministers” to be implemented right away.
It was not even debated in the Ethiopian parliament – at least for procedural formality.
It is certainly questionable why the PM Abiy Ahmed chose this time to introduce an economic policy that would have a serious repercussions for Ethiopia. There are views among Ethiopians who are discussing the matter that the decision might have something to do with imposition from Bretton Woods Institutions ( obviously they are dominated by western powers especially the United States).
Many of the banks in the Ethiopian banking sector are pretty new and do not have strong financial, technological and human resources that would enable them to compete with the big sharks. Many of the banks do not even charge monthly service fees.
Is the decision fair? Share your thoughts in the comments section.
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