The company could decide to enter the markets itself or by purchasing an existing license, she says. The “lack of competition for so long” in Ethiopia means high-pent up demand for corporate financial services, Rossiello says. “The market size is tremendous. We see the market booming in a big way.”
Analysts have said that further liberalisation of Ethiopian financial services will take place gradually to protect domestic stakeholders. Foreign direct investment in the country has slowed since hitting a peak of $4.1bn in 2016, and lack of rights to offer mobile financial services have delayed the country’s attempts to sell a second telecoms operator licence. The award of a second telecoms license, to include mobile financial services, is now set for January 2022.
Investment opportunities have been “diluted by a slower-than-expected transition towards a more pragmatic, market-based policy
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