Addis Ababa, November 28, 2025 (FMC) – The National Bank of Ethiopia (NBE) has formally re-licensed Standard Bank’s Representative Office, marking the first foreign banking institution to be licensed under Ethiopia’s newly revised Banking Business Proclamation.
The central bank said the re-licensing follows a structural shift that places the regulation and supervision of foreign bank Representative Offices (REPOs) under NBE’s mandate.
Previously, REPOs operated under licenses issued by the Ministry of Trade and Regional Integration. NBE has now begun re-licensing these offices and reviewing new applications in line with the updated framework.
Standard Bank, which has maintained a presence in Ethiopia through its representative office, is the first to complete the transition process.
According to NBE, Representative Offices function strictly as commercial and liaison outposts for foreign banks—conducting market research, building relationships and promoting opportunities—but are not permitted to offer banking services or engage in financial transactions.
The central bank stated that bringing REPOs under its regulatory authority strengthens oversight, enhances transparency, and aligns Ethiopia’s financial sector governance with ongoing economic reforms aimed at increasing foreign investment and integration with global markets.