NBE Governor Says Ethiopia Building Strong Financial Sector to Carry Development Ambitions

Addis Ababa, September 29, 2026 (FMC) — Ethiopia is building a strong and vibrant financial sector capable of mobilizing the resources needed to advance investment and the country’s broader development ambitions, National Bank of Ethiopia (NBE) Governor Eyob Tekalign said.

Speaking to the media on the sidelines of the second Ethiopia Finance Forum in Addis Ababa, Governor Eyob said successful implementation of the country’s development strategy requires substantial resource mobilization, particularly financial resources to support investment and development.

He said the banking sector is being positioned to assume a greater role in financing the economy through increased capitalization, mergers and acquisitions, additional financing and the 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.

A stronger financial sector, he added, will expand the economy’s capacity to support investment and productive activities.

At the same time, the Governor stressed that financial-sector development must be underpinned by sound macroeconomic conditions as Ethiopia pursues its growth and development agenda.

Eyob expressed confidence in the country’s economic prospects, citing the transformation achieved across Ethiopia over the past eight years and its potential to create greater opportunities in the decades ahead, particularly for its young generation.

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

He said sustainable growth and macroeconomic stability would remain important foundations for realizing Ethiopia’s long-term development ambitions.

The Governor also linked economic progress to improvements in household welfare, saying efforts are underway to raise incomes and productivity while expanding access to essential goods and services.

Housing and food production are among the areas being addressed to improve livelihoods, he said, adding that higher productivity and greater access to essential food commodities can help strengthen household welfare.

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

Ultimately, he said, the impact of economic strategy should be measured by whether people experience greater empowerment and 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 the NBE’s commitment to strengthening the financial sector and supporting investment, productivity, sustainable growth and improved livelihoods.

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