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News: #Absa Bank links #Ethiopia market entry to further easing of banking rules Absa Group, a #Johannesburg-based multinational banking and financial services conglomerate, has said it would consider entering Ethiopia’s financial services market if the government further loosens ownership restrictions and deepens liberalisation of the banking sector, The EastAfrican reported. The #South_African lender said recent reforms in Ethiopia’s banking sector are encouraging but remain insufficient to support a long-term commercial commitment in what it described as a tightly regulated market. “We are closely following developments in Ethiopia and we think the first few necessary steps have been taken, but we would like to see more opening of the regulatory environment insofar as it relates to banking in that market,” Absa Group Chief Executive Officer Kenny Fihla told The EastAfrican during a visit to Nairobi this week. “When we are of the view that we have the.... Read more: https://addisstandard.com/?p=55031

News: #Kenya’s KCB Group eyes #Ethiopia entry by 2026 through acquisition of local bank Kenya’s banking giant, Kenya Commercial Bank (#KCB), says it is targeting entry into Ethiopia’s newly liberalizing banking sector before the end of 2026 and has already identified a potential local entity for acquisition. The lender has narrowed down its shortlist of Ethiopian banks to a single target it believes offers the right “cultural and strategic fit” for expansion into the market. The interest from KCB Group comes amid growing attention as Ethiopia gradually opens its banking sector to foreign participation. In February this year, #Johannesburg-based #Absa Group said it would consider entering Ethiopia’s financial services market if authorities further loosen ownership restrictions and deepen liberalization of the sector. The South African lender described recent reforms as encouraging but said they remain insufficient to support a long-term........ Read more: https://addisstandard.com/?p=55894