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Ethiopia opens window for local banks – Corporate News – businessdailyafrica.com

November 29, 2012

Click here: Ethiopia opens window for local banks – Corporate News – businessdailyafrica.com.

In a special status agreement signed by President Kibaki and Ethiopia’s Prime Minister Hailemariam Desalegn last week, Ethiopia allowed Kenyan banks to open representative offices. This means that the local lenders cannot generate deposits or lend directly to Ethiopian companies and households, but they can conduct research and credit assessments to allow lending from their headquarters in Kenya.

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