Mamo Mihretu, governor of the National Bank of Ethiopia (NBE), announced today that he will be resigning from his post and ending his career in public service to “pursue other passions.”
The Governor made the announcement via social media in a post that highlights some of his key achievements over an impressive seven-year career in the Ethiopian government.
Mamo first joined the administration of Prime Minister Abiy Ahmed (PhD) as a senior policy advisor and chief trade negotiator in 2018, leaving behind a post at the World Bank Group. Four years later, he became the founding CEO of Ethiopian Investment Holdings (EIH).
Mamo was appointed the 10th governor of the NBE in January 2023, succeeding Yinager Dessie (PhD).
His two-and-a-half year tenure at the helm of the central bank coincided with Ethiopia’s IMF-backed economic reforms. Mamo gave a nod to the achievements of the reform efforts in his farewell social media post.
“I am incredibly proud of the work we did at the National Bank of Ethiopia. As Governor of the National Bank of Ethiopia, I led this venerable institution through the country’s most significant economic reforms in over 50 years. Thanks to the unparalleled professionalism and selfless work ethic of the NBE team and colleagues in the rest of government, we introduced a modern monetary policy framework, transitioned to a market-based exchange rate system, and helped establish the Bank’s autonomy through new legislation,” it reads.
It is not yet clear who will succeed Mamo as governor.
