Ethiopian lawmakers have approved a law permitting foreign banks to enter the country's market. ​​​​​​​Strict regulations have been introduced to safeguard local interests.

The approval follows six months of deliberation after the Council of Ministers passed a draft version of the proclamation and forwarded it to the House of Peoples' Representatives for final endorsement.

Thami Ngubeni spoke to Mered Fikireyohannes, Founder & Chief Executive Officer at Pragma Investment Advisory.