Development Bank Overhauls Executive Suite With Trio of High-Stakes Appointments

The state-owned policy bank, the Development Bank of Ethiopia (DBE), has moved to redraw the upper ranks of its executive team, announcing what its executives called a "major leadership restructuring" with the appointment of three senior posts for financing, risk control and internal oversight, announced yesterday.

Aida Erkyihun is appointed vice president of Wholesale Financing & External Funds, a role that places her at the intersection of the Bank’s external resource mobilisation and wholesale financing operations. She brings more than a decade of experience in investment advisory and policy implementation, built through positions as a senior analyst at the Tony Blair Institute for Global Change, a Consultant for the International Finance Corporation (IFC), and a co-founder and principal partner at ACE Investment & Impact Advisors.

Aida's appointment is paired with the arrival of Tezera Amare as vice president of Risk Management & Compliance, bringing into the Bank a career rooted in the domestic banking industry and its control functions. Tezera previously served for more than 15 years as chief compliance & risk management officer at Awash International Bank (AIB) and also held a management role at the Bank of Abyssinia (BoA). Most recently, he worked as audit manager at Degefa Lemessa & Co. He is also a certified accountant from the Association of Chartered Certified Accountants (ACCA), London, and a graduate of Addis Abeba University.

The third appointment places Alemgena Zerihun in the post of vice president of Internal Audit, extending the restructuring into the Bank’s internal assurance arm. Alemgena joins the DBE from Ethiopost, where she most recently served as Chief Financial Officer (CFO). Her background also includes service as director of Financial Report Review & Monitoring at the Accounting & Auditing Board of Ethiopia (AABE), as well as board memberships at the Ethiopian Industrial Input Development Enterprise and the Ghion Hotel. Earlier in her career, she held senior audit and finance roles at TAY Authorised Accountants & Auditors, OVID Construction, and WWCE.

Taken together, the three appointments bring into the Bank, run by Essays Kassa (PhD), experience drawn from investment advisory, international development consulting, commercial banking, compliance, audit, financial regulation and corporate governance.

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