The International Bank of Commerce (CIB) has just established a representative office in the Ethiopian capital, Addis Ababa.
“The creation of this office is part of the expansion plans of the Egyptian bank on the African market, in line with the strategic trend of the state to increase cooperation with other African countries,” says a note published on 18 April on the Egyptian Stock Exchange (EGX).
“We look forward to this first step in our regional presence and look forward to the promising growth opportunities offered by the Ethiopian market, particularly in light of recent reforms in Ethiopia,” said Hisham Ezz El Arab, President of the United States. IPC.
The ambition of the CBI is to improve relations with Ethiopian banks and support trade. To do so, the bank intends to focus on Egyptian exports to Ethiopia, but also and especially on the investment opportunities available.
