Bulcha Demeksa was a figure whose influence resonated across generations. Stepping into his home in the gated community of Ropak in the Legatafo area, it was clear that he, too, was shaped by the wisdom and support of others.
Beyond the familiar smiles of his family members, three particular portraits stood out: Emperor Haile Selassie I, Yilma Deressa, and Robert McNamara, the former president of the World Bank, who once served as secretary of defence during America's war in Vietnam. These individuals shaped Bulcha's worldview, guided his principles, and supported his unfolding ambition. Whether Yilma's, a finance minister under Emperor Hailesellasie, trust placed in him to modernise Ethiopia’s budgetary system, the recognition from the Emperor for his groundbreaking work on the national budget, or the backing of McNamara at the World Bank, which helped him garner international acclaim, each of these towering figures contributed something unique to his life.
In displaying these three portraits, Bulcha sought to acknowledge their role in shaping his character, demeanour, and commitment to service. From his earliest years, he knew that one should seize every opportunity to learn, shoulder responsibility, and contribute to the public good. Even though he came from humble beginnings in Boji Dirmeji town, in the Wellega zone of Oromia Regional State, he recognised education as his way out.
From an early age, he understood that knowledge was a gateway to broadened horizons, so he diligently pursued his education. He completed primary school in Gimbi, then moved on to Kuyera Seventh-day Adventist Mission School, which placed particular emphasis on discipline and scholarly rigour. That foundation would propel him to Addis Abeba University College, where he graduated with a degree in economics after four years of focused work.
The Imperial government recognised his promise and sponsored him to continue his studies in the United States. He enrolled at Cornell University, an Ivy League college, but since there were no other Ethiopian students there at the time, he transferred to Syracuse University. That choice allowed him to earn a post graduate degree in economics in an environment where he would meet people from diverse backgrounds and refine his economic thinking.
Returning to Ethiopia, Bulcha's advanced knowledge of economics and global perspective made his skills highly sought after. He chose to work at the Ministry of Finance in the Budget Department, a decision that placed him at the heart of fiscal planning. His diligence and intellect quickly set him apart.
At the time, Yilma, a prominent figure in the economic policy circle, saw in Bulcha a young professional brimming with potential. He entrusted him with the monumental task of overseeing and modernising Ethiopia’s budgetary system, a responsibility that carried national importance. Bulcha’s meticulous work ushered in a structured approach to managing the country’s finances.
The Emperor recognised the value of this accomplishment by formally endorsing Bulcha’s new budget presentation. This was a remarkable move, acknowledging that a young economist had helped reshape how the government managed public funds. The Emperor’s acceptance was a defining moment in Bulcha’s career, for it validated his contribution and established a direct line of communication between him and the Emperor.
In time, Bulcha rose to the position of Deputy Minister of Finance, cementing his reputation as a person of competence and integrity in government circles.
Around this time, Bulcha learned of an opening for a board director position at the World Bank, representing 17 English-speaking African member countries, along with Trinidad and Tobago. He recognised the invaluable experience such international exposure would bring. He sought the Emperor’s blessing, explaining that this was more than a personal milestone. It would give Ethiopia a voice on a global stage. Emperor Haile Selassie, appreciative of the potential diplomatic and developmental benefits, offered his permission.
Bulcha secured the position and made history as the first Ethiopian to sit on the executive board of the World Bank, headquartered in Washington, D.C.
He formed a close working relationship with McNamara during his tenure, who often relied on Bulcha’s insights to shape policy decisions affecting African countries. At a time when the Bank’s leadership lacked deep familiarity with African economic issues, Bulcha became a valuable advisor. He helped steer funds towards meaningful development projects, encouraged a broader understanding of domestic conditions, and built bridges between the World Bank and various African countries hungry for resources and expertise.
His efforts were well received, paving the way for more nuanced lending and assistance programmes across the continent.
Yet, Ethiopia’s political life was far from stable. Events soon demanded Bulcha’s consideration. During a transition in government, he was nominated to become Minister of Agriculture. Instead, he extended his tenure at the World Bank by another year, believing he could serve his country’s broader interests more effectively by remaining abroad. His return to Ethiopia eventually became complicated when the military Marxist regime, a.k.a the Derg, rose to power, making it unsafe for him to resume his duties there.
He was hired by the United Nations Development Programme (UNDP) and took high-level roles in countries such as Gambia, Nigeria, and Tanzania. These postings allowed him to remain active in Africa while avoiding the troubles unfolding in his home country.
After decades of serving various international organisations, he retired in 1991 and finally returned home, guided by a profound wish to invest in Ethiopia’s future. He applied himself to private enterprise and was instrumental in founding Awash Bank, the first private bank post-Derg. His broad expertise, grounded in domestic matters and international finance, helped establish the Bank on solid footing. Initially, he served as chairman of the Board, supervising operations and hiring top talent. Later, he assumed the presidency until a well-qualified banker could be appointed to fill that role.
Politics beckoned once more, and he responded by running for a parliamentary seat representing a constituency in Boji Dirmeji District. Victorious, he spent five years in Parliament, where he made a statement of cultural pride by being the first member to address the assembly in Afaan Oromo. For Bulcha, this choice was more than a symbolic gesture; it reflected his long-held belief in linguistic representation, ensuring his constituents felt heard at the highest levels of governance. He went on to co-found the Oromo Federalist Democratic Movement (OFDM). He served as its Chairman for many years, permitting him to lobby for policies he believed would empower local communities and promote federalism.
Though public service and organisational leadership often consumed his time, Bulcha made a point of preserving his life story in writing. He penned an autobiography, published in English, which has since been translated into Amharic and Afaan Oromo and is nearing final publication in those languages. In sharing his journey, he hoped to stress the opportunities and trials of serving at national and international levels.
The family was a cornerstone in Bulcha’s life. He had six children, nine grandchildren, and five great-grandchildren, a growing clan he cherished dearly. Even as his career took him around the globe, he made every effort to instil in his descendants a passion for education, a love for their country, and a sense of responsibility towards others. Beyond his immediate family, he also contributed to the well-being of the community that had nurtured him.
He renovated the primary school he had once attended, ensuring that future generations in Boji Dirmeji would benefit from better facilities. He played a key role in building a Seventh-day Adventist Church in his hometown, recognising the importance of having a stable spiritual and educational infrastructure.
Bulcha's pursuit of knowledge did not end with his work in economics. At one point, he undertook and completed a Law degree (LL.B) from Haile Selassie University, demonstrating that his thirst for learning was unquenchable. His extensive work on Ethiopia’s budget system remains part of the archival record, studied by economics students who wish to understand how such frameworks evolved in the country’s modern economic history. His enduring generosity, kindness, and commitment to improving life, whether through official service or personal outreach, left a mark on all who crossed his path.
Throughout his long international career, Bulcha was known for helping fellow Ethiopians in any way he could, offering them guidance, and sometimes even shelter, whenever they found themselves in difficult circumstances abroad. Despite numerous opportunities to remain elsewhere, he kept his Ethiopian identity at the forefront, returning home to apply his knowledge and resources for the country's betterment whenever possible.
In December 2024, at the age of 94, Bulcha passed away after an extended period of illness. His departure marked the end of a life dedicated to public service, economic policy reform, and community uplift. It was a poignant loss for his family, friends, colleagues and a country that benefited from his expertise and commitment.
PUBLISHED ON
Feb 09,2025 [ VOL
25 , NO
1293]
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