Research on the economic effects of African Christianity has mainly focused on Pentecostalism. The dominant opinion of this literature is that Pentecostalism stimulates economic activity and supports economic development. This article looks beyond Pentecostalism by discussing the case of an Evangelical church in southern Ethiopia. Covering a period of two decades, I trace a shift in the relation between Evangelicalism and local aspirations for economic development. Initially seen as a means to achieve religious ends, the pursuit of development has recently been problematized as a source of social and spiritual ills. The church now discourages excessive participation in the commercial economy, and dedicated Evangelicals relinquish economic opportunities that they fear could lead them into sin. This shows that while Christianity can stimulate processes of economic development it can also constrain these, motivating people to renounce the quest for wealth in favour of other values.