Mekelle፡Telaviv, Nairobi, Pretoria, London, (Horn News Hub).
Kenya’s Equity Bank Limited Eyes Entry into Ethiopian Market
Equity Bank Limited, one of Africa’s largest financial institutions, has officially expressed interest in entering Ethiopia’s banking sector, following the government’s landmark decision to open the financial industry to foreign investment.
In a high-level meeting this week, Ethiopian Investment Commission (EIC) Commissioner Zeleke Temesgen met with Equity Bank Group CEO James Mwangi to discuss the framework for the bank’s entry.
Mwangi emphasized that Equity Bank had long sought an opportunity to expand into Ethiopia and that the recent liberalization presented the ideal opening. “Ethiopia is one of Africa’s most promising markets. Our ambition is not just to invest but to serve as a model for other international financial institutions considering entry,” he said.
Equity Bank, headquartered in Nairobi, operates across Kenya, Tanzania, Rwanda, Uganda, South Sudan, and the Democratic Republic of Congo. Its entry into Ethiopia is expected to bring regional expertise, digital banking innovations, and broader financial inclusion strategies that could accelerate the country’s financial sector modernization.
Analysts note that Ethiopia’s financial opening marks a turning point for a historically closed market, with Equity Bank’s move likely to set the pace for other foreign lenders eyeing Africa’s second most populous nation.
