Ethiopia is taking steps towards introducing a central bank digital currency (CBDC), with the National Bank of Ethiopia (NBE) preparing two proclamations as part of an economic reform plan. The proclamations, which have been approved by the Council of Ministers, include creating a legal framework for a CBDC and increasing the NBE's capital. They also address foreign investment in banking and the creation of a regulatory sandbox for innovative financial solutions. Ethiopia has already begun economic liberalization, including ending the state monopoly on mobile money services. The country is one of at least 18 African nations researching CBDCs.