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Ethiopia has proposed new banking laws that would finally liberalise ownership rules and allow foreign lenders like KCB Group and Equity Bank to establish full operations in the country for the first time.
The move is in a push to attract overseas capital into the sector. The draft proclamations announced by the National Bank of Ethiopia (NBE) on Friday and seen by Financial Standard would permit foreign banks to set up subsidiaries or branches locally or take up to 30 per cent stakes in existing Ethiopian banks.
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