Ex-ECMA Deputy Becomes DBE President amid Reform Push - 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 departure of Emebet Melese (PhD). This leadership change is documented by Birrmetrics and forms part of a wide-reaching reform program led by Ethiopian Investment Holdings (EIH).
The reform agenda aims to strengthen governance, boost organizational performance, and ensure the DBE better serves Ethiopia’s national development priorities. EIH also indicated that similar improvements are expected to spread to other state-owned enterprises (SOEs) within its portfolio.
Esayas Kassa brings a wealth of regulatory and policymaking experience from his ECMA tenure, where he led efforts to broaden Ethiopia’s capital markets and promote inclusive finance. He earned a PhD in public policy and administration and has contributed to developing frameworks for sustainable finance and market transparency.
According to an EIH letter, the sovereign wealth fund of the Federal Democratic Republic of Ethiopia is charged with strengthening governance, improving performance, and unlocking the strategic potential of state-owned enterprises to support sustainable economic growth.
As part of the transition, Teklewold Atnafu, the DBE board chair and former governor of the National Bank of Ethiopia, along with Emebet Melese, will conclude their terms of service.
This leadership reshuffle mirrors other moves by EIH across government-owned firms. In November, EIH led a comprehensive restructuring at the Ethiopian Construction Works Corporation, replacing its chief executive and the entire board after a governance and financial performance review. Officials described that overhaul as part of a broader strategy to boost accountability and unlock value across SOEs.
