Legal Update: Liberalization of the Banking Sector in Ethiopia
Date: Dec. 17, 2024 On 17 December 2024, the FDRE House of People’s Representatives deliberated on and approved the Banking Business Proclamation. 1. Liberalization and Licensing of Banking Business The Proclamation opens the banking sector to foreign investors. Foreign banks may now enter the Ethiopian market by establishing a subsidiary, a branch, a commercial representative […]
Legal Update: Real Estate Development and Real Property Marketing and Valuation Proclamation
Date: Dec. 11, 2024 On 5 December 2024, the FDRE House of People’s Representatives, in its 9th regular session, deliberated and approved the Real Estate Development and Real Property Marketing and Valuation Proclamation. The Proclamation regulates the real estate industry that has been largely unregulated and operates under scattered laws. The main objective of the […]