African Countries are Improving Their Banking Systems

Allen Global Consulting Blog

Sub-Saharan African countries are improving their banking systems to establish themselves in the global economy and improve domestic resource mobilization. They are developing sensible regulations that are improving their banking effectiveness.

African BankingAfrican Business states that according to the World Bank Group report, Doing Business 2015, sub-Saharan Africa has implemented the highest number of business regulatory reforms in the world over the past year, with 74% of the region’s economies improving their business regulatory environment for local entrepreneurs.

And the results are showing. Two Ethiopian banks made it to Africa’s Top 100 Banks list according to African Business magazine’s annual rankings of the biggest banks in Africa in terms of capital. Commercial Bank of Ethiopia (CBE) ranks 57th and Dashen Bank is 88th largest bank in Africa. According to the magazine, Ethiopia’s state-owned Commercial Bank has a capital of $173 million USD as of June 2006 and an asset of $4.1…

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