Addis Ababa, January 27, 2027 (FMC) — The Commercial Bank of Ethiopia (CBE) has assumed a central role as a financial stabilizer amid Ethiopia’s ongoing foreign exchange market reforms, according to Finance Minister and CBE Board Chairman Ahmed Shide.
Speaking at the launch of CBE’s Customer Service Week in Addis Ababa today, the Minister said the Bank’s dominant market position and strengthened asset quality have enabled it to play a stabilizing role during the reform process.
He noted that CBE accounts for nearly 50 percent of the national financial market, a scale that has positioned the Bank as a key anchor of stability as the country implements wide-ranging macroeconomic and foreign exchange reforms.
Highlighting the Bank’s growing support for the private sector, Ahmed Shide said that 88 percent of CBE’s total loan portfolio in the last Ethiopian fiscal year was extended to private enterprises, underscoring the institution’s commitment to driving private-sector-led growth.
The Minister also pointed to Ethiopia’s improving macroeconomic performance, stating that the ongoing reform agenda has delivered tangible results, including a robust 9.2 percent economic growth in the previous fiscal year, with growth projected to reach 10.2 percent in the current Ethiopian fiscal year.
Representing CBE President Ephrem Mekuria, a senior bank official said the institution has significantly expanded its financing to private enterprises, disbursing a total of 458 billion Birr in loans to the sector during the 2017 Ethiopian fiscal year.
He said this deliberate focus reflects CBE’s pivotal role in accelerating national economic expansion and strengthening Ethiopia’s business ecosystem.
The representative further noted that CBE has reached a major milestone in its digital transformation, with more than 90 percent of total transactions now conducted through digital channels.
According to him, these digital services are supported by advanced, AI-driven Zero Trust cybersecurity systems, reinforcing the Bank’s position as a frontrunner in Ethiopia’s national digitalization drive.
He also pledged that the Bank will address network-related service challenges during the week-long Customer Service Week, which is being held to honor CBE’s customers and staff.