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  • BF1CAA6E-18B6-422A-B62B-16E90D1E0AD5Ethiopian Food as Divine Blessing
  • Skylight-hotel-New-Year-719-Copy-Copy-2-Copy-1How Perfect Is Ethiopian Calander? The Answer Lies On The Seventh Day Of Pagume ‘Aqede’
  • 581FB89E-5B1B-42C7-9A4C-C6658A75C52FEight must-try dishes for Ethiopian New Year in the UAE
  • ED93F3AC-74DA-413B-9810-5B803E7A915FLet this 99-year-old nun be your introduction to Ethio-jazz
  • E00B6DCF-A08A-4223-8597-6734E7355A12Dagmawi Lalibela: The Newest Rock-hewn churches in Ethiopia

Business

  • 49694448-951E-40EB-892F-0DC7CA997B7FWe want to help African airlines recover as we develop region’s aviation industry
  • 4423A6A8-9118-4001-A568-29491271B89BEthiopian Airline Expect To Double Its Fleet And Network By 2035
  • 338F47E9-4A86-4C4F-B56B-479A33A38BDBEthiopian To Fly 3x Daily To Johannesburg and Daily To South American Cities
  • 72B160A7-3A4E-49D6-984C-8AAFB0B7F710Ethiopia and Somalia are Scripting History With a Joint Infrastructure Project
  • 6A6D21B7-BE07-41C3-BC38-D28986C21290Ethiopian Airlines emerges core investor in Nigeria Air with 49% shareholding

Africa

  • Flag-map_of_Algeria.svgAlgeria
  • C440468B-373F-4269-A304-F8C6C8601C31Is Al-Shabab a UN puppet, latest developments strongly suggest so
  • 53BFAF0F-3573-48A6-A062-B650F6D96118Did You Know 14 Teams With Players Of African Origins In 2022 World Cup
  • 45FE9518-D50A-4265-874F-6BB435842EB7Ten key Points That African Leaders Committed To Industrialize The Continent
  • 46E10F33-E3C8-4F7A-9B31-A3204390FC3CNCBA eyes deals for M-Shwari into DRC, Ethiopia
Addis-Ababa-National-Commercial-Bank-of-Ethiopia
December 2, 2019

Ethiopia is opening many industries to foreign investors, expect the financial sectors

Bloomberg

Ethiopia is shaking up its economy by opening many industries to foreign investors. Just don’t expect the government to loosen its grip on banks yet.

“Banking, insurance, micro-credit and micro-saving services” will be reserved only for domestic investors, according to draft regulations released by the Ethiopian Investment Authority. International aviation, where state-controlled Ethiopian Airlines dominates, power, postal services and weaponry will be done by, or in partnership, with the government, the document shows.

Prime Minister Abiy Ahmed is seeking to privatize state-owned companies in a bid to reform the economy of Africa’s second-most populous nation. His administration still intends on keeping un-starred hotels, gaming and trading, except for high-capital items like petroleum imports, for locals.

Several foreign banks have representative offices in the Horn of Africa country, including Kenya’s Equity Group Holdings Plc. Lease companies, such as a unit of New York-based Africa Asset Finance Co., which pledged to bring in equipment worth $600 million after being licensed in August, can also operate there.

Telecommunication, where international carriers including Orange SA, MTN Group Ltd. and Vodacom Group Ltd. have expressed interest to invest in the market of 108 million people, will be open to foreign ownership. The state has already announced plans to partly liberalize state-owned monopoly Ethiopia Telecommunications Corp. and license two other operators next year.

Abiy’s administration wants foreigners to invest in capital-intensive projects while leaving small and some strategic businesses to nationals, according to the state’s investments-promotion agency.

The drafts propose that external ownership of businesses like domestic air and certain transport and logistics services be capped at 75%, with the rest held by domestic partners. Enterprises like media and so-called grade-two construction services should take only as much as 49% foreign ownership.

Bloomberg

Ethiopian cities sees pedestrians take over the roadways Talk over Ethiopia’s Grand Renaissance Dam headed to a major breakthrough

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Travel

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  • Homage to Entoto Park How the Old “Town in the Forest” is turning into a newly flowering tourist hubHomage to Entoto Park How the Old “Town in the Forest” is turning into a newly flowering tourist hub

Africa

  • Flag-map_of_Algeria.svgAlgeria
  • C440468B-373F-4269-A304-F8C6C8601C31Is Al-Shabab a UN puppet, latest developments strongly suggest so
  • 53BFAF0F-3573-48A6-A062-B650F6D96118Did You Know 14 Teams With Players Of African Origins In 2022 World Cup
  • 45FE9518-D50A-4265-874F-6BB435842EB7Ten key Points That African Leaders Committed To Industrialize The Continent
  • 46E10F33-E3C8-4F7A-9B31-A3204390FC3CNCBA eyes deals for M-Shwari into DRC, Ethiopia

Culture

  • BF1CAA6E-18B6-422A-B62B-16E90D1E0AD5Ethiopian Food as Divine Blessing
  • Skylight-hotel-New-Year-719-Copy-Copy-2-Copy-1How Perfect Is Ethiopian Calander? The Answer Lies On The Seventh Day Of Pagume ‘Aqede’
  • 581FB89E-5B1B-42C7-9A4C-C6658A75C52FEight must-try dishes for Ethiopian New Year in the UAE
  • ED93F3AC-74DA-413B-9810-5B803E7A915FLet this 99-year-old nun be your introduction to Ethio-jazz
  • E00B6DCF-A08A-4223-8597-6734E7355A12Dagmawi Lalibela: The Newest Rock-hewn churches in Ethiopia

Business

  • 49694448-951E-40EB-892F-0DC7CA997B7FWe want to help African airlines recover as we develop region’s aviation industry
  • 4423A6A8-9118-4001-A568-29491271B89BEthiopian Airline Expect To Double Its Fleet And Network By 2035
  • 338F47E9-4A86-4C4F-B56B-479A33A38BDBEthiopian To Fly 3x Daily To Johannesburg and Daily To South American Cities
  • 72B160A7-3A4E-49D6-984C-8AAFB0B7F710Ethiopia and Somalia are Scripting History With a Joint Infrastructure Project
  • 6A6D21B7-BE07-41C3-BC38-D28986C21290Ethiopian Airlines emerges core investor in Nigeria Air with 49% shareholding

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