Reforms Help Build Dynamic Financial Sector, Says NBE Governor

Addis Ababa, October 2, 2026 (ENA)—  Ethiopia has been building a more dynamic financial system and economy through a series of macroeconomic reforms aimed at addressing structural distortions, expanding financial access and strengthening institutions, National Bank of Ethiopia (NBE) Governor Eyob Tekalign said.

Speaking during a fireside conversation at the conclusion of the three-day Ethiopia Finance Forum 2026  in Addis Ababa, Eyob described the reform process as a multi chapter undertaking rather than a series of isolated policy announcements.

He said the reforms are being implemented through disciplined execution and a focus on delivering tangible results.

The governor also clarified that the NBE has taken measures to address distortions in the foreign exchange market, noting that previous approaches had created constraints to building a competitive and dynamic economy.

The introduction of a more flexible foreign exchange regime and related measures has laid the foundation for a more functional and market oriented foreign exchange system, he said.

Eyob also highlighted the national  bank’s efforts to contain inflation. He said the NBE’s policy committee meets quarterly to assess inflation trends and determine appropriate measures to bring price pressures under control.

He emphasized that financial sector reform must also expand access to finance for different segments of society.

According to the governor, reforms are extending financial services to smallholder farmers through microfinance institutions while efforts to promote financial inclusion are also supporting rural women.

Eyob further highlighted housing finance and mortgage policy, describing the cost of housing as a major burden for many households. 

He said addressing the challenge requires stronger institutions and greater openness to competition across the financial sector, including banking and insurance.

On digitalization, the governor stressed that rapid technology adoption must be accompanied by trusted and reliable infrastructure.
 
Trust is essential to ensure digital systems work effectively and securely, he said.

Eyob said the reforms are also strengthening financial capacity across insurance, microfinance and other parts of the financial system. 

He emphasized the importance of financial literacy in enabling citizens to understand financial services and make effective use of expanded access to finance.

The governor stressed that the reform process should not be viewed as a collection of slogans or public statements, but as a process that requires sustained implementation, monitoring and accountability.

He further urged investors, development partners and Ethiopians across different sectors to work together toward national development objectives, cautioning that waiting for complete certainty could result in missed opportunities.

Eyob also called for collective efforts to build an economy and financial system capable of creating better opportunities for future generations, saying the country should learn from the shortcomings of previous generations and work toward leaving a stronger foundation for those to come.