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Ethiopia to keep banking sector only for domestic investors - draft law

Ethiopia will not open up its banking and insurance firms to foreign ownership even as it clears the way for overseas investors to buy into other sectors of its economy, a draft law seen by Reuters on Monday showed.

Prime Minister Abiy Ahmed, who came to power last year, is shaking up several industries by opening them up to foreign investment, part of a bid to transform Ethiopia into a middle-income country.

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