Addis Ababa:The rapid growth of digital financial services, alongside significant macroeconomic reforms, is marking a transformative period for Ethiopia's banking sector.
According to Ethiopian News Agency, Gemechis Dugasa, Director of Regulation, Licensing and Approval at the National Bank of Ethiopia (NBE), highlighted these developments during the Ethiopia Finance Forum 2026. He noted that structural changes in the economy and the development of capital markets are reshaping the country's financial landscape.
Dugasa pointed out the significant role of mobile banking, digital payments, mobile money, and agent-based financial services in creating innovative business models and raising the standard of financial services across Ethiopia. Digital finance is redefining how financial services are delivered, with Ethiopia recording digital transactions worth 33 trillion birr in the 2025/26 fiscal year.
However, Dugasa emphasized that this rapid digitalization requires robust cybersecurity measures, effective data protection, reliable digital infrastructure, and enhanced operational governance. Ethiopia is modernizing its banking regulatory framework to support these changes and is establishing a legal foundation for foreign participation in the financial sector.
He also noted that foreign investors are expected to bring more than just capital to Ethiopia's financial sector, including advanced technologies, knowledge transfer, and international financial connectivity. Dugasa stressed the importance of adapting international financial practices to local economic circumstances to ensure sustainable growth.
As part of broader economic reforms, Ethiopia is focusing on strengthening macroeconomic stability, expanding financial inclusion, and accelerating digital transformation. The financial sector is central to these efforts, playing a vital role in mobilizing savings, financing investment, and expanding financial services access.
The Ethiopia Finance Forum 2026, hosted by the NBE, brings together various stakeholders to discuss policy and regulatory reforms, investment opportunities, and the future direction of the financial sector. The forum aims to promote collaboration and identify opportunities for investment and partnership as Ethiopia advances its economic transformation agenda.
