The Governor of the National Bank of Ethiopia (NBE), Mamo Esmelelaem Mihretu, has resigned from his post after more than two and a half years in the role.

Governor Mamo oversaw a period of significant financial reform, spearheading critical macroeconomic policies and the revision of key banking legislation, including the new NBE establishment and banking business proclamations.

Financial experts suggest his departure may be linked to the newly enacted NBE proclamation, which formally mandates the central bank’s independence from the executive branch. This move towards autonomy aligns with repeated recommendations from the International Monetary Fund (IMF). Attempts to contact Mamo, who is also a member of parliament, for comment were unsuccessful.