The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. GABV itself consists of 70 member banks across 44 countries, serving more than 50 million customers with combined assets amounting to 265 billion dollars. The discussions focused on Ethiopia’s financial sector reforms, values-based banking, and investment opportunities. The meeting facilitated an exchange of views on monetary policy and reforms to improve the investment framework within Ethiopia's banking industry. According to NBE, the engagement offered critical insights from GABV’s experience in values-based banking and financial inclusion, exploring sustainable finance models that could contribute to Ethiopia’s economic transformation. According to Martin Rohner, executive director of GABV, the Alliance’s mission is to reshape the financial system to serve individuals and the planet better. He introduced the GABV Correspondent Banking Consortium, designed to enhance cross-border payment services in Dollars, Euro, and CNY, addressing de-risking challenges and bolstering financial inclusivity. He stated that the goal is to guide the financial sector's evolution by expanding and fortifying values-driven banking. The approach is designed to ensure that financial services support people and the environment while promoting a sustainable and equitable future. Mamo Mihretu, governor of the NBE, presented the Central Bank’s initiatives to the GABV delegation, stating the importance of these collaborative discussions and reaffirming a commitment to promoting strategic partnerships that aims for an inclusive, substantial, and investor-friendly banking environment.
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