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Posted by Ethio Tribune on November 24, 2012

Ethiopia Not Ready for Foreign Banks – PM

President Mwai Kibaki and Ethiopian Prime Minister Hailemariam Dessalegn make a toast to celebrate the good bilateral relationships between the two countries at a banquett hosted in his honour at a Nairobi hotel last evening. Photo PPSEthiopia is still not ready to open up its market for foreign banks, Prime Minister Ato Hailemariam Desalegn has said throwing into disarray plans by Kenyan lenders to venture into the country.

The Ethiopian leader was ironically speaking at a breakfast hosted by Equity Bank at the Intercontinental hotel in Nairobi just after the bank chief executive James Mwangi sought the Ethiopian leader’s support to venture into the country.

Desalegn was responding to local business community’s inquiries on available opportunities in Ethiopia following the signing of an inter-governmental pact for Special Treatment Agreement for Kenyan traders going to Ethiopia.

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