Stanbic Bank is considering establishing a wholly owned banking operation in Ethiopia as foreign ownership restrictions are pushing international lenders to rethink traditional acquisition-led expansion strategies in one of Africa’s most attractive and underpenetrated financial markets.
The lender, a subsidiary of Standard Bank Group, is evaluating options for entering Ethiopia’s banking sector, including building a new operation from the ground up rather than acquiring a stake in an existing local bank, according to news reports.
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The move comes as several African banking groups race to secure an early foothold in Africa’s second-most populous nation following the historic opening of its financial sector to foreign participation in June 2025.
Leading lenders, including Nigeria’s Zenith Bank and FirstBank, alongside Kenya’s KCB Group and Equity Group Holdings, are actively exploring opportunities in the market as Ethiopia dismantles decades
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