Addis Ababa skyline at sunset
Addis Ababa · ETB

Ethiopia

Africa's second most populous nation, in the middle of a historic financial liberalisation: a market-based exchange rate, a new securities exchange, and a banking sector opening to foreign investors.

Key indicatorsIndicative
Policy rate
Aug 2026
15.00%
Inflation (y/y)
Aug 2026
12.80%
Exchange rate
Aug 2026
146.0
GDP growth (proj.)
2026 proj.
7.50%
Addis Ababa skyline at sunset
Indicators

Ethiopia by the numbers.

Policy rate
15.00%
Aug 2026 +0.00
Inflation (y/y)
12.80%
Aug 2026 -0.19
Exchange rate
146.0
ETB/USD · Aug 2026 -0.80
GDP growth (proj.)
7.50%
2026 proj. +0.04
91-day T-bill yield
14.00%
Aug 2026 -0.15
Banking NPL ratio
3.90%
Aug 2026 -0.02
Indicative figures from the TrippleShield research desk (Indicative — TrippleShield research desk); trend lines are modelled. Verify against official releases before relying on them.
Regulatory architecture

Who supervises what.

National Bank of Ethiopia

Ethiopian Capital Market Authority

Financial Intelligence Service

Themes we're watching

What's on the agenda.

FX liberalisation

Foreign bank entry

Capital-market launch

Payments modernisation

Regulatory developments

Recent change in Ethiopia.

Jan 2025
Ethiopian Capital Market Authority medium impact effective

Ethiopian Securities Exchange begins trading

The launch of the Ethiopian Securities Exchange, under a new capital-markets regulator, opens listing, disclosure and market-conduct obligations for issuers and intermediaries.

Dec 2024
National Bank of Ethiopia high impact enacted

Banking sector opened to foreign investment

New banking legislation allows foreign banks and investors to enter the Ethiopian market, bringing new licensing, governance and fit-and-proper expectations.

Jul 2024
National Bank of Ethiopia high impact effective Effective Jul 2024

Transition to a market-based foreign exchange regime

Ethiopia moved to a market-determined exchange rate, reshaping FX risk, trade finance and pricing across the banking sector and for foreign investors.

Other markets

Compare with the region.