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The South Africa-based Standard Bank, one of the prominent banks in Africa, is looking for opportunities to finance investment projects in Ethiopia.

Standard Bank Group has disclosed the opening of its representative office in Addis Ababa, Ethiopia, The Daily Monitor reported.

Standard Bank Group, South Africa's largest financial services group is planning to establish a representative offices in Ethiopia, the Bank's spokesperson said on Monday. Standard Bank is also planning to set up representative office Ivory Coast, the bank's latest move to expand into sub Saharan Africa, where it already has operations in 18 countries.

Ethiopia, Africa's second most populous nation after Nigeria, is seen as a potentially big market for foreign banks, although the financil sector of the country still remains closed to foreign companies.

Standard Insurance S.C. is preparing to enter the Ethiopian insurance market within the next few days, positioning itself as the country’s 19th insurance company.

Ethiopia's National Standards Council is expected to approve 1,098 national standards in its meeting to be held this coming Thursday, according to the Ethiopian Standards Agency.

Daniel Zenebe, Communication and Public Relations Head with the Agency, told Walta Information Center that, standards dealing with agriculture, food, textiles and leather, construction, engineering, chemical products, electro mechanical and health are among the sectors expected to be approved by the Council.