As a result, six Ethiopian banks were included in the recent African Business Top 100 African Banks table, up from five last year and just two in 2022. However, access is im- proving, including through some inter- esting innovations devised by Ethiopian banks. Banking sector opens upIn December, the Ethiopian parliament finally passed long-heralded legisla- tion to allow foreign banks to operate in the country. Foreign banks can now set up their own subsidiaries for the first time since they were banned in 1974 and can take stakes of up to 40% in established local banks. Another attraction for both domestic and foreign banks is the sheer size of the country’s enormous potential market.

Source: Ethiopian News December 23, 2025 14:52 UTC