NBE gives the go ahead for strategic FDI’s to open offshore accounts

The National Bank of Ethiopia has enacted Offshore Account Opening and Operations for Strategic Foreign Direct Investment (FDI) Projects directive to allow certain strategic investment projects preferential treatment to Open Offshore accounts, to provide convertibility guarantees and to benefit from an increased debt-to-equity ratio.
The preferential treatment will only extend to eligible PPP investments in power generation and infrastructure; large mining projects with substantial export earning potential and other FDI projects deemed strategic by the board of the NBE.