The Ethiopian government has set a target of USD 8 billion in remittances from its diaspora community during the 2025/26 fiscal year, building on efforts to expand remittance channels and strengthen economic diplomacy.

In a virtual discussion with the President of the Commercial Bank of Ethiopia (CBE) and Ethiopian diplomats in the Middle East, Ethiopian Diaspora Service Director General Ambassador Fitsum Arega stressed the government’s focus on enhancing diaspora engagement to increase financial inflows and attract foreign investment.

Ethiopia collected USD 7.17 billion in remittances in 2024/25, but Ambassador Fitsum highlighted the significant untapped potential among Ethiopians abroad. To meet the new target, CBE and other financial institutions are preparing incentive packages and improved services for the diaspora.

He emphasized that remittances are vital to Ethiopia’s economy, supporting business expansion, market research, product development, and facilitating access to international markets.

Source: The Ethiopian Herald