The National Bank of Ethiopia (NBE) has officially re-licensed Standard Bank’s Representative Office, marking the first such approval under the country’s newly revised Banking Business Proclamation.
Under the updated regulations, NBE now oversees the licensing and supervision of foreign bank representative offices (REPOs), a responsibility previously handled by the Ministry of Trade and Regional Integration. The central bank has begun re-licensing existing REPOs and reviewing applications from new entrants.
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Standard Bank, which has maintained a representative office in Ethiopia, is the first foreign bank to receive formal licensing under the new framework. Representative offices serve as liaison and commercial hubs, conducting market research, relationship building, and promotional activities, but they are not permitted to provide banking services or execute financial transactions.
