Ethiopia: Investment Regulations Amendment and Banking System
Despite all changes in Africa, Ethiopia retains distinctive points for foreign investment.
Ethiopia is an important market in Africa, especially for companies planning to expand their businesses in Africa. Addis Ababa is the home of (Ethiopian Airlines) that offers flights to more than 100 destinations; 60 Africans and locals and 45 internationals.
Currently, there are big changes in investment regulations in Ethiopia. The biggest change is the amendment to the “negative list” of investment areas. The new idea is that everything that is not reserved for the domestic investor is now open to foreign investment.
More Capitals in Banks, Stronger Economy
Another achievement that improves financial inclusion and integrates big local capitals within the banking system. and helps reach the entire population; the establishment of ZamZam Islamic Bank.
According to Ecofin Agency, in May 2019, Abiy Ahmed, the Ethiopian Prime Minister, expressed his approval in favor of the establishment of financial institutions entirely dedicated to Islamic finance. In June, the same year, the Central Bank issued a directive authorizing the creation of Islamic banks.