Mamo E. Mihretu, the tenth Governor of the National Bank of Ethiopia (NBE), is a name that stands at the forefront of Ethiopia’s economic transformation. A dynamic leader with an impressive track record, Mamo is not just an economist, but a key architect of the country’s ambitious reform agenda. His career, which spans government advisory roles, leadership in state-owned enterprises, and strategic negotiation on the global stage, reflects his commitment to reshaping Ethiopia’s economic landscape and securing its place in the fast-evolving global financial environment.
Born and raised in Ethiopia, Mamo’s academic journey began with a law degree from Addis Ababa University, where he graduated with honors and earned the university’s coveted gold medal. His passion for understanding the complex intersections of law, economics, and leadership took him beyond Ethiopia, where he furthered his studies at prestigious institutions. Mamo obtained a Master’s in Trade and Investment from the University of Pretoria and University of Amsterdam, solidifying his expertise in global trade policies. His academic pursuits culminated at Harvard University’s Kennedy School of Government, where he earned a Master’s in Leadership, Public Administration, and Economic Development—a degree that would equip him with the skills to navigate Ethiopia’s economic reforms with visionary precision.
Mamo’s ascent to prominence in the Ethiopian economic sphere was not accidental but a product of his deep understanding of both national and international economic policies. Before becoming the Governor of NBE, Mamo served as the CEO of Ethiopian Investment Holdings (EIH), the government’s strategic investment arm. In this role, he was responsible for managing Ethiopia’s most significant commercial assets, including Ethiopian Airlines, Ethio Telecom, and Ethiopian Shipping and Logistics Enterprises—powerhouses of the nation’s economy. His leadership at EIH demonstrated his ability to optimize public enterprises, fostering efficiency and profitability at a time when Ethiopia was embarking on wide-scale economic reforms.
Beyond his role at EIH, Mamo has served as a member of Ethiopia’s Macroeconomic Council, a body responsible for steering the nation’s economic policy and strategic decision-making. His deep involvement in shaping and implementing Ethiopia’s economic reform program reflects his influence on the country’s fiscal strategies over the last few years.
In January 2024, Mamo E. Mihretu took the helm at the National Bank of Ethiopia, where he has already begun to enact his vision for a modern, resilient financial system. One of his key initiatives, the NBE’s New Strategy Plan, launched in late 2023, is designed to build on recent successes in Ethiopia’s banking sector. Mamo highlighted these efforts during the 2024 East Africa Finance Summit, where he discussed the regional and global dynamics affecting Ethiopia’s financial sector.
Under his leadership, the Ethiopian financial sector has seen substantial growth in digital finance, with services like mobile banking, mobile wallets, and internet banking becoming increasingly prevalent. He pointed out that, as of early 2024, Ethiopia’s financial sector boasts 121 institutions with combined assets of 3.4 trillion birr, making it one of the fastest-growing sectors in the region.
Mamo’s expertise extends far beyond Ethiopia’s borders. His tenure as Ethiopia’s Chief Trade Negotiator from 2018 to 2021 saw him representing the country at the World Trade Organization (WTO), where he played a pivotal role in negotiations that shaped Ethiopia’s trade policies.
At the 2024 East Africa Finance Summit, Mamo discussed the global economic pressures stemming from the U.S. Federal Reserve’s aggressive interest rate hikes and their impact on African sovereign bonds. He emphasized the need for African countries to adapt to these global shifts, noting that Ethiopia’s ability to manage domestic debt markets and mitigate inflationary risks was critical for the country’s economic stability.
A forward-looking leader, Mamo has been a vocal advocate for Ethiopia’s transition into the digital age. He recognizes the critical importance of cybersecurity in protecting Ethiopia’s growing digital financial infrastructure. As he pointed out during the 2024 Cyber Security Month campaign in Addis Ababa, ensuring the security of Ethiopia’s digital assets is not just a national priority but a matter of digital sovereignty. He stressed the need for robust investment in cybersecurity and the development of local technological talent to safeguard Ethiopia’s digital future.
Mamo E. Mihretu is part of a new generation of African leaders who blend technical expertise with a clear vision for the future. Named by The Financial Times as one of the young technocrats driving Ethiopia’s ambitious reform agenda, Mamo’s work at the NBE and beyond is characterized by a commitment to modernization, inclusivity, and strategic foresight.
As Ethiopia faces both domestic and international challenges, Mamo’s leadership will be instrumental in ensuring that the country’s financial institutions remain robust, dynamic, and capable of supporting the government’s broader economic goals. Whether addressing global economic trends or spearheading digital innovations, Mamo’s thoughtful, forward-thinking approach is transforming Ethiopia’s financial landscape for the better.
Mamo E. Mihretu stands out as a leader combining deep intellectual rigor with practical experience in navigating the complex world of finance and governance. His journey from a gold-medal-winning law student at Addis Ababa University to the Governor of the National Bank of Ethiopia can only mirror his hard work, vision, and commitment to Ethiopia’s development.
