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Search Results: bankingThe thriving Ethiopian banking industryPublished: Nov 29, 2009 by bini
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Ethiopian News
In the wake of the 1974 bloody socialist revolution, all private banks and insurance companies in Ethiopia were nationalized. After the downfall of the Dergue military regime, the EPRDF-led government allowed the private sector to engage in the banking and insurance industry in 1994. Accordingly, private banks began to flourish thereafter. In the past 15 years more than ten private banks have been established and their market share has grown substantially. In recent years more private banks are being established.
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