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Ethiopian President says country not ready for foreign investment in telecoms, banking

Ethiopian President Mulatu Teshome Wirtu

Ethiopia is not yet ready for foreign investments in its telecoms and banking sectors, but is interested in developing its manufacturing, Ethiopian President Mulatu Teshome Wirtu said on Tuesday.

The country, which has one of the last state telecoms monopolies on the continent, has let foreign companies including fashion chain H&M set up factories in a decade-long push to change the economic focus from agriculture to manufacturing.

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