A Saturday afternoon infotainment - The anticipated result has come. The sad story of the family on EBS television. Well, there are huge challenges but they’re also very big opportunities as well. We’re living in a very difficult market environment.
I’m not only talking about Ethiopia but also about the whole of Africa and the globe due to certain issues, climate challenges, and other issues. In that context, we have to be very creative about finding new solutions to push forward and change the financial markets.
At the moment there are two big issues in Ethiopia of which one is access to financial services. Access to financial services is very low and we need much more in the way of digital financial services to reach poor communities and to make value chains more efficient.
The second is that there is a need for much more investment and private sector investment to create jobs and build the infrastructure that we need in the future, and there are all sorts of reasons why that investment is not happening.
One of the reasons is that the financial sector in Ethiopia is very bank-dominated since there isn’t any capital market.