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Esayas Kassa (PhD) Appointed DBE President After Emebet Melese (PhD) Removal

The Development Bank of Ethiopia (DBE) has confirmed a major leadership transition following the removal of EmebetMelese (PhD) from her position as president, officials have confirmed. The confirmation follows the circulation of an official letter announcing her dismissal, the authenticity of which has been verified by senior government officials. However, no details have been disclosed regarding the reasons for her removal or the effective date of the decision, and DBE has yet to issue a formal public statement.

Emebet Melese was appointed president of the state-owned development lender in October 2024. Prior to her role at DBE, she served as Chief Executive Officer of Nib International Bank and held several senior management positions at the Commercial Bank of Ethiopia. DBE plays a critical role in financing Ethiopia’s priority sectors, particularly industry, agriculture, and export-oriented projects, making the leadership change significant for the broader financial and development landscape.

Following her removal, Esayas Kassa (PhD) has been appointed as the new president of the Development Bank of Ethiopia, according to official documents. Esayas previously served as Deputy Director-General of the Ethiopian Capital Market Authority (ECMA), where he was closely involved in regulatory reforms aimed at expanding Ethiopia’s capital markets, strengthening market transparency, and promoting inclusive and sustainable finance.

The leadership transition is part of a broader reform initiative led by Ethiopian Investment Holdings (EIH), the government’s sovereign wealth fund. EIH stated that the changes are intended to strengthen governance structures, enhance institutional performance, and ensure that state-owned enterprises operate in alignment with national development priorities and long-term economic objectives.

As part of the transition, Teklewold Atnafu, chair of the DBE board and former governor of the National Bank of Ethiopia, has also concluded his service. The DBE overhaul follows similar EIH-led interventions across other state-owned enterprises. In November, EIH oversaw a comprehensive management and board restructuring at the Ethiopian Construction Works Corporation, citing governance and financial performance reviews as the basis for the move.

Market observers note that appointing a former ECMA senior official to lead DBE may signal a stronger emphasis on governance, regulatory discipline, and alignment with Ethiopia’s evolving financial sector reforms. Further details regarding DBE’s strategic direction under its new leadership are expected in the coming period.

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Esayas Kassa (PhD) Appointed DBE President After Emebet Melese (PhD) Removal

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