Regulatory Alerts2022-11-25
Added · Updated
Opening, Relocation and Closure of Branch Office of Capital Goods Finance Companies Directive No. CGFB/14/2022
The National Bank of Ethiopia establishes requirements for capital goods finance companies to conduct feasibility studies, provide staff training, and install security measures before opening new branches. Companies must obtain a branch license within 30 working days of commencing operations or relocating, and must secure written approval from the regulator at least 30 working days prior to any branch closure. Existing branches must be licensed within six months of the directive's effective date, which is November 23, 2022.
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