By Joe Udo
ADDIS ABABA (CONVERSEER) – Ethiopia has announced plans to print its own currency locally.
Prime Minister Abiy Ahmed revealed the initiative at the Finance Forward Ethiopia 2026 conference, with Ethiopian Investment Holdings leading the effort to build domestic printing capacity.
This step aims to boost economic sovereignty, enhance security over banknotes, cut risks from outsourcing (like shipping vulnerabilities), and potentially lower long-term costs.
Currently, more than two-thirds of Africa’s 54 countries—at least 40—still outsource their currency printing, mostly to firms in the UK (e.g., De La Rue), France, Germany (e.g., Giesecke+Devrient), and occasionally the US or Canada. This practice often brings added expenses and logistical challenges.
Ethiopia’s decision aligns it with nations like Nigeria, South Africa, Kenya, Egypt, and others that already handle their own production, signalling a growing push for greater monetary independence across the continent.
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