National Bank of Ethiopia and Mastercard Foundation Launch Comprehensive Financial Education Module for Youth and MSMEs











Addis Ababa, May 2024 — The National Bank of Ethiopia (NBE), in collaboration with the Mastercard Foundation and First Consult under the BRIDGES program, has officially launched a groundbreaking financial education module designed to empower Ethiopia’s youth and Micro, Small, and Medium Enterprises (MSMEs). This initiative aims to provide essential financial knowledge and skills that will enhance financial literacy and promote financial inclusion across the country.

The “Financial Education Module for Youth, Women, and MSMEs” is a significant milestone in Ethiopia’s ongoing efforts to improve financial literacy. The module, developed with contributions from the Financial Education Working Group, draws on international best practices and local insights to offer accessible and practical information on various financial topics.

Key Features of the Module

The module covers ten comprehensive and interrelated topics crucial for financial literacy:

Introduction to Business and Entrepreneurship – Provides basic skills needed to set up a successful enterprise.

Goal Setting – Teaches the importance of setting and achieving financial goals.

Budgeting – Offers insights into creating and managing a financial budget.

Basics of Bookkeeping – Introduces fundamental accounting principles necessary for small businesses.

Savings – Encourages saving habits and provides strategies for effective saving.

Investment – Guides on making informed investment decisions.

Sources of Finance – Discusses various financing options available to MSMEs.

Financial Services – Explains the use and benefits of formal and informal financial services.

Digital Financial Services – Covers the importance and use of digital financial technologies.

Risk Management and Insurance – Provides knowledge on managing risks and the role of insurance.

Target Audience

The module is specifically designed for Ethiopia’s youth and MSME operators, focusing on addressing the financial knowledge gap between urban and rural populations. It is written in plain language to ensure broad accessibility and understanding, regardless of the participants’ prior financial knowledge.

Training Delivery

To ensure effective knowledge transfer, the module will be delivered through interactive learning materials, workshops, and innovative delivery mechanisms tailored to the unique needs of the participants. The training will be conducted in three phases, with participants receiving certificates of attendance upon completion.

A Strategic Approach to Financial Inclusion

This initiative aligns with the NBE’s Financial Education Strategy (2021-2025), which aims to ensure that 75% of Ethiopian adults are knowledgeable about financial products and services by 2025. The strategy recognizes the critical role of standardized financial education materials in achieving this goal and addressing the low levels of financial literacy in Ethiopia.



H.E. Mamo Mihretu, Governor of the National Bank of Ethiopia, expressed his enthusiasm for the module’s potential impact, stating, “This financial education module is a vital step towards fostering a financially inclusive society in Ethiopia. It equips our youth and MSMEs with the tools they need to make informed financial decisions, ultimately contributing to the nation’s economic growth.”

Samuel Yalew, Ethiopia Country Director for the Mastercard Foundation, highlighted the collaborative effort behind the module’s development, saying, “This module is the result of a collective effort to bring together diverse perspectives and expertise. It reflects our commitment to supporting inclusive finance and sustainable development in Ethiopia.”



As the NBE and its partners roll out this financial education module, they are confident that it will play a crucial role in empowering Ethiopia’s youth and MSMEs. The module is not just a learning tool but a catalyst for change, driving financial inclusion and helping individuals and businesses navigate the financial landscape effectively.

For more information, visit nbe.gov.et.