Ex-ECMA Deputy Appointed President of Development Bank of Ethiopia — Birr Metrics
Esayas Kassa, PhD, previously the deputy director-general of the Ethiopian Capital Market Authority (ECMA), has been named president of the Development Bank of Ethiopia (DBE) following the removal of Emebet Melese, PhD, according to documents obtained by Birrmetrics.
This leadership shift is part of a broader reform push led by Ethiopian Investment Holdings (EIH) aimed at strengthening governance, boosting institutional performance, and ensuring the DBE supports the country’s development priorities. EIH indicated that similar reforms are likely to extend to other state-owned enterprises under its portfolio.
Esayas Kassa brings a wealth of regulatory and policy expertise from his ECMA tenure, where he led initiatives to expand Ethiopia’s capital markets and advance inclusive finance. He holds a doctorate in public policy and administration and has contributed to creating frameworks for sustainable finance and greater market transparency.
“EIH, as the sovereign wealth fund of the Federal Democratic Republic of Ethiopia, is charged with strengthening governance, enhancing performance, and unlocking the strategic potential of state-owned enterprises to propel sustainable economic growth,” the EIH letter states.
The transition also marks the departure of Teklewold Atnafu, chair of the DBE board and a former governor of the National Bank of Ethiopia, along with Emebet Melese, from their positions.
This leadership revamp follows parallel moves by EIH at other state-owned entities. In November, EIH executed a broad management and board overhaul at the Ethiopian Construction Works Corporation, removing its chief executive and entire board after a governance and financial performance review. Officials described that shake-up as part of a wider effort to improve accountability and unlock value across government-owned enterprises.
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