Governor Mamo Tests Transparency. Will It Pass a Test of Time?
In a departure from its traditionally opaque practices, the National Bank of Ethiopia (NBE), under the stewardship of Governor Mamo Mehiretu, has unveiled a new report mapping the financial sector's stability—a move signalling a broader commitment to transparency in financial governance. On the surface, the report, dubbed the stress test, details the financial sector's robustness and vulnerabilities. But more importantly, its release marks a cultural shift towards openness that could set a precedent for other federal institutions to do the same.
Like many developing economies, Ethiopia is...