Standard Bank opens office in Ethiopia

30 October 2015 - 16:58

South Africa's Standard Bank has opened an office in Ethiopia, it said on Friday, to gain a foothold in one of Africa's fastest growing economies where foreign lenders are not allowed to own banks. Ethiopia is a lucrative market with a population of about 90 million people and which Standard Bank - Africa's largest by assets with a presence in 20 countries - said has averaged economic growth of more than 10 percent for the past five years.

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