After Safaricom, Kenyan lenders angle for Ethiopia’s 120m market

Ethiopia's newly elected Prime Minister Abiy Ahmed addresses the members of Parliament inside the House of Peoples' Representatives, during a meeting for the approval of 2018/19 budget in Addis Ababa, Ethiopia July 6, 2018. [Reuters, Tiksa Negeri]

Safaricom’s grand entry into Ethiopia has bolstered hopes of Kenyan banks gaining a foothold in the country’s market of 120 million people that has for long been closed to outside investors.

With the liberalisation of the telecommunications sector...