Ethiopia Building Strong Financial Sector to Drive Sustainable Growth, Says Central Bank Governor

Addis Ababa, September 29, 2026 (ENA) — Ethiopia is building a strong and vibrant financial sector to support the country’s development ambitions and sustainable economic growth, National Bank of Ethiopia (NBE) Governor Eyob Tekalign said.

Briefing the media on the sidelines of the second Ethiopia Finance Forum that opened today, the Governor noted that successful implementation of the country's development strategy requires significant resource mobilization, particularly financial resources to support investment and development.

Therefore, the banking sector is being positioned to play a greater role in this process through increased capitalization, mergers and acquisitions, additional financing and participation of foreign banks.

“The Central Bank will be focused on creating a very strong, vibrant financial sector that can really carry the development hurdles that the nation faces,” Eyob said.

 

The Governor said a stronger financial sector will help expand the capacity of the economy to support investment and productive activities.

He also highlighted the importance of maintaining a sound macroeconomic foundation while advancing the country’s growth and development agenda.

Eyob expressed confidence in Ethiopia’s economic prospects, pointing to the transformation achieved across the country over the past eight years.

“Ethiopia’s progress offers significant promise for the coming decades, particularly for the country’s young generation,” he said.

According to him, sustainable growth and macroeconomic stability will remain important foundations for achieving the country’s long-term development ambitions.

The Governor further highlighted efforts to improve citizens’ living standards through higher incomes, greater productivity and improved access to essential goods and services.

Housing and food production are among the key areas being addressed as part of efforts to improve livelihoods, he added.

Increasing productivity and making essential food commodities more accessible can also contribute to improving household welfare.

Eyob also noted that the government has significantly increased salaries for public servants as part of broader efforts to enhance citizens’ incomes.

 

The Governor stressed that the end result is to make sure people feel empowered and they have better livelihoods.

“Strategy is judged by citizens’ results. What does it bring to an individual Ethiopian? And that’s the question,” he said.

The Governor reaffirmed NBE’s commitment to strengthening Ethiopia’s financial sector and supporting investment, productivity, sustainable growth and improved livelihoods.

The Ethiopia Finance Forum has brought together policymakers, financial institutions, development partners, private-sector leaders and members of the Ethiopian diaspora to discuss Ethiopia’s financial sector reform agenda.