Ethiopia’s banking industry is not merely underdeveloped. It has historically regressed. Calls for the financial sector to open for international capital, technology, network and skill remain dwarfed in the face of nationalistic disguise to shelter it from foreign competition. Perhaps the die-hard protectionists who have taken economic policy discourse hostage would be surprised to find out that the first bank established was a concession deal given to non-nationals.
What do new banks offer their older cousins don’t?
Published On: July 30 , 2022