iibGroup Joins 15 Foreign Representative Offices In Ethiopia

Mintesinot Nigussie

iibGroup Holdings W.L.L. has opened a representative office in Addis Ababa, becoming the latest addition to the 15 foreign institutions now licensed to operate in Ethiopia as the country gradually opens its financial sector. The new office marks one of the first approvals granted following recent regulatory reforms.

The Addis Ababa presence will allow iibGroup to build relationships with local financial institutions, support cross-border investment and connect Ethiopian businesses with its international network. The office will operate under Ethiopia’s representative office framework, focusing on liaison activities, market research and partnership development.

The expansion builds on the group’s regional platform in Djibouti, where its subsidiary iib East Africa provides commercial and transactional banking services. The bank is expected to prioritise the Ethiopia–Djibouti trade corridor, which handles the majority of Ethiopia’s import and export flows.

The move comes as Ethiopia advances financial liberalisation measures aimed at attracting foreign capital, improving access to finance and modernising the banking system. International investors have increasingly turned their attention to the country, viewing it as one of the last large frontier markets in Africa’s financial landscape.

Sohail Sultan, chairman of iibGroup, said the firm would continue to explore opportunities to expand its presence as the regulatory environment evolves while building long-term partnerships in the local market.

Aynalem Ababu, the group’s chief representative officer in Addis Ababa, said the office would facilitate access to global financing for Ethiopian companies and support inbound investment into large-scale infrastructure projects, including the planned Bishoftu airport development.

Businesses in trade, logistics and infrastructure are expected to benefit from improved access to international financing and stronger cross-border banking relationships.

The opening of iibGroup’s office signals growing confidence among foreign financial institutions in Ethiopia’s reform process and its potential as a regional financial hub.

Overall, this development strengthens Ethiopia’s position as an attractive destination for international financial services and cross-border investment.