SHARE THIS ARTICLE Share Tweet Post EmailPhotographer: Michael Tsegaye/Bloomberg Photographer: Michael Tsegaye/BloombergEthiopia approved new regulations that continue to reserve business opportunities in many sectors, including financial services, for local investors. Banking, insurance, brokerage services, and legal consultancy remain off limits for foreign investors, according to the regulations published on the Ethiopian Investment Commission’s website. Exports of coffee, and media and security services are also exclusively for local investors. Still, foreign investors working with a domestic partner are restricted to a 49% stake, according to the regulations that took effect on Sept. 2. Several foreign banks have representative offices in the Horn of Africa country, including Equity Group Holdings Plc of Kenya.

Source: Ethiopian News September 09, 2020 13:07 UTC