Mulugeta Asmare: Roles, Education, and Professional Achievements

Mulugeta Asmare Bogale is a seasoned Ethiopian banking executive with over 30 years of proven experience in the financial sector. He is one of the founding members of Goh Betoch Bank S.C., the first private bank in Ethiopia focused solely on mortgage banking. He served as the founding Chief Executive Officer of the bank from November 1, 2021, until January 31, 2024, after being officially approved by the National Bank of Ethiopia.

Mulugeta began his banking career in 1992 as a bank clerk at the Commercial Bank of Ethiopia (CBE), where he worked for nearly 18 years. During his tenure at CBE, he rose through the ranks and held multiple leadership roles, including Credit Assessment Team Leader, Workout Division Manager, District Manager, and Head of the Commercial Credit Directorate.

In 2010, he joined the Bank of Abyssinia, where he served as Vice President and Credit Director until 2014. He was later appointed as the CEO and President of Bank of Abyssinia, a role he held from 2014 to 2018, overseeing a significant phase of the bank’s expansion and transformation.

Mr. Mulugeta holds a Master of Business Administration in International Business (MBA-IB) from the University of Greenwich (UK). He also earned a BA in Accounting from Addis Ababa University and a diploma in Accounting from Addis Ababa Commercial College. He has completed several local and international trainings in management, leadership, and corporate governance.

Beyond his executive roles, Mulugeta has been actively involved in Ethiopia’s broader financial sector. He currently serves as a board member of Nile Insurance S.C., one of the country’s leading insurance companies, where he has contributed for about 8 years.

In interviews, Mulugeta often reflects on his humble beginnings—coming from a rural background, entering banking after graduating from Addis Ababa School of Commerce, and combining full-time work with evening studies at Addis Ababa University. He has spoken about witnessing the transformation of Ethiopia’s banking system from state-dominated to increasingly private and modernized, and he has played a direct role in driving that change.