Ethiopia, the second most populous country in Africa, is preparing to take a major step by opening its banking sector to foreign investors. This liberalization, supported by a $3.4 billion rescue plan from the IMF, would already attract the interest of Moroccan banks, who would consider positioning themselves on this promising market, according to local media.
According to the governor of the National Bank of Ethiopia, Mamo Mihretu, several Moroccan banks, alongside their Kenyan and Emirati counterparts, have expressed keen interest in establishing local subsidiaries.
“Regarded as one of the largest and least exploited banking markets in Africa, the choice of Ethiopia could transform the financial sector by bringing capital, innovation and competition,” he explained.
For Moroccan banks, this investment is part of a regional diversification strategy, which would allow them to strengthen their presence in East Africa, a region that is still little exploited but with strong growth potential.
Morocco
