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Foreign investment in Ethiopian banking in focus.

Asia Africa Intelligence Wire

| April 01, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Addis Ababa, Ethiopia (PANA) - A joint World Bank and IMF mission arrives Tuesday in Addis Ababa to discuss with top government officials necessary reorganisations expected to be introduced in Ethiopia's financial sector.

IMF officials said discussions at the meeting would focus on the measures that the government must take to increase competition in the financial sector and permit foreign banks to operate in the country.

They said the entry of foreign banks into the local finance sector might be through direct investment, buying shares in local banks or through the recruitment of foreign expertise.

The officials believe the country would benefit from such foreign interests in banking by attracting foreign investment and strengthening the capacity of indigenous banks.

They say Ethiopia lags behind in this area as it ...

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