Allowing foreign banks to enter Ethiopia’s financial sector will be instrumental in sustaining economic growth and competitiveness in the country by ensuring a stable financial system.
Having a stable financial system is crucial for the sustainability of the country’s economy. This move will not only promote competitiveness but also ensure stability.
Mamo Mihretu, National Bank of Ethiopia (NBE) Governor
The entry of Foreign banks is a significant shift in Ethiopia’s economic policy: Economist
Ethiopia’s decision to permit foreign banks to operate in the country for the first time in over 50 years is a significant shift in its economic policy and marks a big step forward.
This decision will have a major impact on Ethiopia’s overall economy, especially its financial sector. Allowing foreign banks to operate will encourage international competition in the sector, which is beneficial for the nation’s economy.
Ethiopia, with the third largest economy in sub-Saharan Africa, requires a robust banking sector to support its growth. Many banks from Africa, the Middle East, the Gulf, Asia, and China are now considering entering Ethiopia’s banking industry.
Zemedeneh Nigatu, Global Fiar Fax Africa Fund Chairman said during his stay with BBC’s ‘News Day’
Agenda gathering consultations forum in Oromia region came to an end: ENDC
The consultation process for gathering agenda items in the Oromia region has been completed over the last four consecutive days.
The forum brought together over 7,000 representatives from 356 districts across the region, all accommodated in Adama.
The Ethiopian National Dialogue Commission (ENDC)
– Ethiopia is candidate for AU-PSC membership: FM Gedion
Ethiopia is a candidate for the African Union’s Peace and Security Council (AU-PSC) for the 2025-2027 terms. Ethiopia plays a crucial role in the African decolonization process and is a founding member of both the OAU and AU.
Considering its long-standing commitment to peace, stability, and unity across the continent, Ethiopia is hopeful to gain the support of AU member states in the process.
Ethiopia is committed to strengthening multilateral cooperation and advancing Africa’s collective voice, particularly in achieving the goals of Agenda 2063.
GedionTimothewos (PhD), Minister of Foreign Affairs of Ethiopia
The people of the state have demonstrated their desire for dev’t and sustainable peace: Chief Administrator
The peaceful demonstrations organized by the public throughout the Amhara region were urging for lasting peace and an end to conflicts. The messages conveyed during the demonstrations were unified in calling for conflicts to cease and demanding a shift towards peace and development in Amhara.
Threats and intimidation have not shaken the people’s resolve; they have shown unwavering commitment to peace.
These demonstrations serve as a strong reminder to conflicting parties to prioritize dialogue as a means to resolve conflicts. It is a call for all stakeholders in the region to address their concerns through peaceful means.
AregaKebede, Chief Administrator of Amhara Regional State
THE ETHIOPIAN HERALD SATURDAY 21 DECEMBER 2024
