Central Bank Governor Mamo Mihretu today unveiled an ambitious three-year strategic plan promising to drive more inclusive development across Ethiopia.
Addressing a meeting of commercial bank presidents and board chairs at the National Bank of Ethiopia headquarters, Mamo described the strategy's goals of reducing inflation, strengthening financial stability, expanding access, and modernizing payments systems.
"Price stability and financial soundness will be top priorities as we implement reforms over the next three years," Mamo asserted. Deeper financial inclusion through digital transformation is also in the crosshairs.
In a briefing to journalists, Mamo revealed the strategy's most aggressive component: a push for bolder, more inclusive credit expansion.
"Lending growth has disproportionately benefited only some sectors and borrowers. That must change," Mamo told journalists. He challenged bankers to align their plans with the central bank's strategy and expand access into underserved areas.
