Ethiopia Implementing Bold, Visionary Economic Reform: ACBF Economic & Social Governance Head

Addis Ababa, October 11, 2025 (ENA)— Africa needs initiatives like Ethiopia's bold and visionary homegrown economic reform in order to realize the continent’s inclusive growth, African Capacity Building Foundation (ACBF) Economic and Social Governance Head Peguewinde Rodolphe Bance said.

Key achievements of Ethiopia's Homegrown Economic Reform include economic growth, record export revenues, and a notable reduction in inflation, supported by a transition to a more market-oriented system and efforts to improve fiscal management and foreign exchange.

In an exclusive interview with ENA, Bance commended Ethiopia’s vision of homegrown solutions.

Stating the power of vision and leadership as instrumental for Africa’s sustainable growth, the Head noted that having vision, leadership and the boldness in making things happen is crucial for realizing the continent’s inclusive growth.

“I think what I am seeing here (in Ethiopia) is this vision, boldness to make things move and to design another narrative that something that we believe we can make it happen.”

Bance also praised the government’s reform initiatives happening in the taxation area, and the performance from the tax administration of the country.

According to him, there are some reforms in terms of making the development visible to citizens that show taxes have been used to be more effective in the development. “I think this is something that builds trust.”

He lauded the government for implementing massive tax reforms aimed at modernizing the tax system, increasing revenue, and improving compliance. Recognizing loyal taxpayers is in particular an exemplary practice, the Head added.

Recall that the 7th Annual Loyal Taxpayers Recognition Ceremony, an event established in 2018 by Prime Minister Abiy Ahmed to foster a culture of appreciation for citizens who diligently fulfill their civic responsibility by paying taxes on time, was held this week.

“I was happy to see that there was a taxpayers day in Ethiopia, which is a good practice that brings taxpayers with tax administration to recognize their faithfulness, to recognize the trust in the government,” Bance stated.

Commenting on the financial reform, he said it is critical to boost the country’s economy as   having a dynamic public or private financial sector is vital for realizing sustainable development.

In terms of digital transformation, he said Ethiopia has made significant strides in its digital transformation agenda as the country is actively undergoing a digital transformation driven by the Digital Ethiopia 2025 strategy.

The strategy aims to build a digitally-driven economy through initiatives like expanding digital services, a national digital ID system called Fayda, and digital payment systems.

Since 2018, Ethiopia has pursued a Homegrown Economic Reform agenda focused on boosting private sector participation, improving the business climate, and achieving macroeconomic stability.