BofA Makes Rare Ethiopia Entry With Road-Race Sponsorship Deal

Bank of America Corp. plans to sponsor the Great Ethiopian Run, a rare venture by an international lender into Africa’s most populous nation after Nigeria.

The deal by the second-largest US bank may signal that Ethiopia, which has largely stayed closed to foreign investors, could be opening up, said Yvonne Ike, the head of sub-Saharan Africa for the lender, which has no presence in the country and primarily supports multinational clients.