ANALYSIS: The National Bank of Ethiopia recently published its 2023-2026 strategic plan. Some key facts: Timeframe: The plan outlines reforms over the next 3 years (2023-2026). Monetary policy: NBE aims to transition to a market-based monetary policy framework from its current approach. Inflation target: The central bank targets reducing inflation from the current 30% to under 10% by 2025 and eight percent by 2026. Reserves: NBE plans to grow foreign exchange reserves from under 1 month to over
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ANALYSIS: The National Bank of Ethiopia recently published its 2023-2026 strategic plan. Some key facts: Timeframe: The plan outlines reforms over the next 3 years (2023-2026). Monetary policy: NBE aims to transition to a market-based monetary policy framework from its current approach. Inflation target: The central bank targets reducing inflation from the current 30% to under 10% by 2025 and eight percent by 2026. Reserves: NBE plans to grow foreign exchange reserves from under 1 month to over
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🚨 Are 25 Ethiopian banks on the edge of disappearing? A new financial stability report from the National Bank of Ethiopia just revealed a shocking reality for the country's banking sector. Out of 31 commercial banks, only ONE giant (the Commercial Bank of Ethiopia) controls a massive 50% of the market. Five medium-sized banks hold 29%, leaving 25 small banks fighting for survival over just 22% of the market share. Coupled with a brutal 151.4% currency devaluation, severe cash shortages, and an
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🚨 Are 25 Ethiopian banks on the edge of disappearing? A new financial stability report from the National Bank of Ethiopia just revealed a shocking reality for the country's banking sector. Out of 31 commercial banks, only ONE giant (the Commercial Bank of Ethiopia) controls a massive 50% of the market. Five medium-sized banks hold 29%, leaving 25 small banks fighting for survival over just 22% of the market share. Coupled with a brutal 151.4% currency devaluation, severe cash shortages, and an
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