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Standard Bank opens Ethiopian office

Standard Bank has opened a representative office in Addis Ababa. The office will act as an entry point for clients seeking to invest in Ethiopia and will be administered by Standard Bank’s head office in South Africa. According to the bank, Ethiopia’s remarkable growth has been underpinned by high public investment and a growing consumer base. The country boasts the second largest population on the continent, behind Nigeria, at around 90 million. GDP growth has averaged about 10% over the past five years. Heavy public investment in agriculture, energy and transport are likely to continue to support growth in the medium term as the government ramps up its productive sectors. The bank has also established a presence across four of the key markets in the region- Kenya, South Sudan, Tanzania and Uganda.

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