The National Bank of Ethiopia has been recognized at the Central Banking Awards 2026 in the category of Payments and Market Infrastructure Development – Wholesale, marking a significant international acknowledgement of Ethiopia’s progress in modernizing its financial market infrastructure.
The award highlights NBE’s role in establishing and operationalizing a modern Central Securities Depository, a critical platform supporting open market operations, the treasury market, securities settlement, and the broader development of Ethiopia’s capital market. It also reflects the Bank’s continued commitment to building secure, digital, and inclusive financial infrastructure that supports Ethiopia’s wider economic reform agenda.
In recent years, Ethiopia has undertaken major financial sector reforms, including the transition toward an interest rate-based monetary policy framework and a more market-oriented foreign exchange regime. These reforms require strong market infrastructure capable of supporting modern monetary policy implementation, efficient securities issuance, reliable settlement, and broader investor participation.
A major milestone in this transformation has been the launch of the Central Securities Depository. The CSD enables the electronic safekeeping, transfer, clearing, settlement, and reporting of securities, helping Ethiopia move away from paper-based processes toward a dematerialized financial market environment. It supports government securities, the primary market, equities, secondary market activity, and NBE’s monetary policy operations.
The CSD also strengthens settlement safety by enabling delivery-versus-payment settlement in central bank money, reducing operational risk and increasing confidence in Ethiopia’s securities market. It further supports NBE’s collateral and liquidity management framework, including liquidity provision and absorption through auctions and standing facilities.
The platform is closely linked to Ethiopia’s broader capital market development agenda, following the enactment of Capital Market Proclamation No. 1248/2021, the establishment of the Ethiopian Capital Market Authority, and the creation of the Ethiopian Securities Exchange. Integration between the CSD and the Ethiopian Securities Exchange trading platform provides the foundation for a more transparent, efficient, and reliable secondary market.
In addition, the introduction of the TSEGA Portal for the retail primary market is designed to expand public participation in capital markets and advance financial inclusion by making investment opportunities more accessible to individuals across Ethiopia.
The CSD now supports more than 3,000 active traders, with seven issuers and 41 participating institutions. These early results demonstrate the platform’s growing role in deepening market activity, broadening participation, and strengthening Ethiopia’s financial market infrastructure.
Delivering the project required close coordination across government, regulators, market institutions, financial sector participants, investors, and technology partners. The reform involved not only the implementation of technology, but also the development of operating rules, market procedures, institutional capacity, and stakeholder alignment.
NBE’s recognition at the Central Banking Awards 2026 also underscores the importance of international collaboration and knowledge exchange in delivering complex national reforms. The Bank engaged with international experts and peer institutions to design a system suited to Ethiopia’s policy objectives, market structure, and development needs.
During the Central Banking Meetings in London, NBE also participated in a high-level panel titled “Sovereign Tech for Central Banks: Securing Digital Autonomy and Resilience.” The discussion explored how central banks can adopt and govern digital technologies to strengthen operational resilience, data sovereignty, regulatory compliance, and innovation. NBE’s participation reflects Ethiopia’s growing contribution to global conversations on central bank modernization and resilient financial infrastructure.
This recognition is an important milestone in Ethiopia’s financial sector transformation, but it is also part of a continuing journey. The National Bank of Ethiopia remains committed to strengthening market integrity, improving efficiency, reducing operational risk, and supporting the development of a modern, inclusive, and resilient financial system.
The Bank extends its appreciation to all institutions, partners, and teams whose commitment, technical expertise, and coordination contributed to this achievement.
As Ethiopia continues to deepen its financial markets and modernize monetary policy operations, the National Bank of Ethiopia will continue advancing reforms and systems that support stability, innovation, inclusion, and sustainable economic development.
