National Bank of Ethiopia Rebrands Training Institute as Ethiopia Academy of Finance amid Economic Reforms
The National Bank of Ethiopia announced Thursday that its longtime training arm, the Ethiopia Institute of Financial Studies, has been renamed and rebranded as the Ethiopia Academy of Finance, marking a significant upgrade in the country’s push to modernize its financial sector.
The Ethiopia Academy of Finance, or EAF, will continue to serve as the capacity-building arm of the National Bank of Ethiopia. Officials said the institution plays a central role in developing the skilled workforce needed for a sound, inclusive and modern financial system.
In recent years the academy has undertaken major reforms, strengthening governance, modernizing training methods, establishing a dedicated research unit and introducing a comprehensive digital learning management system.
Originally founded as the internal training and capability-building branch of the central bank, the Ethiopia Institute of Financial Studies previously focused on delivering localized, short-term technical courses in banking and insurance.
It served as the main hub for training in bank accounting, risk management and basic operational skills for both state-owned and private financial institutions operating in Ethiopia’s tightly regulated economy.
The name change reflects a broader shift in mission driven by Ethiopia’s Homegrown Economic Reform Agenda. In a relatively short period the country has liberalized its foreign exchange system, opened the banking sector to foreign investment and prepared for the launch of the Ethiopian Securities Exchange.
Officials said the old structure, designed for a state-led closed economy, was no longer adequate to prepare professionals for complex capital markets, digital banking and modern financial systems.
The transition to an “academy” signals an ambition to become a center of excellence. The institution is establishing international partnerships, including with the Frankfurt School of Finance & Management and the College of Insurance in Kenya, to deliver global professional certifications.
It has also launched a dedicated research unit intended to produce data and market insights that support evidence-based policymaking.
The rebranding coincides with a major push on digitization and scale. Backed by international development programs such as the SWIFT initiative — Skilled Workforce for Innovation and Financial Sector Transformation — the academy aims to train tens of thousands of professionals across the country.
Officials said this expansion required moving from a primarily campus-based model to a nationwide, technology-driven institution powered by an end-to-end digital learning management system.
The National Bank of Ethiopia described the changes as essential to building the human capital required for Ethiopia’s evolving financial landscape.
