Bahrain-based iibGroup has secured approval from the National Bank of Ethiopia to establish a representative office in Addis Ababa, becoming the first international financial institution to receive such a license since Ethiopia began liberalizing its financial sector.
The move places iibGroup among the earliest foreign entrants positioning themselves in Ethiopia’s newly opening financial landscape. Recent reforms are expected to create fresh opportunities in areas such as foreign direct investment, trade facilitation, and financial innovation.
Although around 15 representative offices already operate in the country, iibGroup’s approval is the first issued under the updated regulatory framework—highlighting growing international interest in Ethiopia’s evolving market.
The group, which already operates in neighboring Djibouti through its regional arm, plans to leverage the critical Ethiopia–Djibouti trade corridor. This route handles the majority of Ethiopia’s imports and exports, making it a strategic focus for the company’s regional expansion.
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