Bio
Ermias Eshetu has been the CEO of the Ethiopia Commodity Exchange (ECX) since January, 2015. He has over 20 years of technical and leadership experience working for Fortune 500 and multinational companies, including IBM, Alcatel, Orange and MicroStrategy. In addition to his leadership experience, he brings a wide range of technical expertise in the areas of software engineering and business intelligence, solving complex business problems and implementing business solutions in line with clients’ corporate strategies. Prior to joining the ECX, he held various posts, including Board Director, member of the Executive Management team, and most recently served as Vice President for Marketing and Corporate Services at Zemen Bank, a successful Ethiopian bank founded in 2007.
Information
Education
1996 – 1997, Manchester School of Management, Manchester, UK – MSc in International Business
1993 – 1996, University of Manchester Institute of Science & Technology, Manchester, UK – BSc (Honors) in Computation
1992 – 1993, Newham College of Further Education, London, UK – BTEC Higher National Certificate in Software Engineering
1991 – 1993, Newham College of Further Education, London, UK – BTEC National Certificate in Business and Finance
1991 – 1992, Newham College of Further Education, London, UK – BTEC First Diploma in Information Technology and Applications
Experience
Ethiopia Commodity Exchange, Addis Ababa 2015-present
Chief Executive Officer
- Development of vision, strategic focus, regular amendment of rules, and designing the overall policy of the exchange.
- Management of bank accounts, preparation of work programs and budgets; preparation of the organizational structure and institutional needs; preparation of the internal policies and procedures related to the human resources, financial systems, and administrative policies; recruitment and administration of the senior management; provide strong and effective leadership to all employees.
- Advises the board on short-term loan contracts and sale of fixed assets.
- Submission of financial and management reports; strategic business planning and setting of market development and penetration targets.
- Develop monitoring and evaluation indicators on impact of the ECX on the commercialization of smallholder agriculture, poverty alleviation, and economic growth.
- Submission of financial and management reports on the performance of the exchange and the financial status.
- Develop partnership with other emerging market exchanges as well as established developed country exchanges, resource mobilization, and capacity building.
Zemen Bank SC, Addis Ababa 2007-2015
Board Director/Vice President – Marketing & Corporate Services
- As Board Director, made major contribution towards the bank’s policy, strategy and corporate goals.
- Setting out its business model, identifying its market segments and defining the governance framework. Refining its technology strategy and adaptation during establishment and after. Enforced compliance of regulatory concerns and shareholder values. Identifying and employing the executive and senior management teams. Running and overseeing the office of the board secretariat. Chaired the permanent Technology Committee as well as other ad-hoc committees. Represented the board and the bank at all levels locally and internationally.
- As executive management, ensured the establishment of the bank’s core brand equity; secured prominent customers in line with the bank’s strategy; enhanced the bank’s image through standardized and professional marketing methods; contributed towards the attainment of extraordinary ROIs year-on-year. Overseeing HR responsibilities such as recruitment, training and promotion of all staff. Supervising the bank’s security unit, procurement and other corporate related services. Managing the bank’s research department delivering exceptional quality analysis covering macro-economic, sectorial and investment.
CATConstruction Equ. Rental/ SharpCon Construction PLC, Addis Ababa 2006-2009
CEO, Owner and Co-founder
- Implemented an efficient management model for each business to run as independent units.
- Managed high-level issues related to capital expansion, commercial, marketing and budget.
- Continuously assessed market opportunities, trade diversification and management policies.
- Established business affiliation with global vendors in construction and after-part accessories.
Netonomy Ltd, London, United Kingdom & Paris, France 2004 - 2005
Principal Consultant/Project Manager
- Managed technical and financial resources; effectively interacted with the Client’s Design Authority.
- Outsourced, marketed and managed a global SI team based on client’s business requirement.
- Directed the initiation, implementation and migration of a strategic business intelligence system.
- Analyzed requirement issues, priorities, and resolving crucial technical and political roadblocks.
- Performed market analysis, contract negotiation and business value assessment.
Solvenda/Exsto Ltd, London, United Kingdom 2001- 2003
Principal Consultant
- Responsible for developing and launching end-to-end BI solutions to new SME leads.
- Management of BI team, marketing, P&L responsibility; maintained profitability steadily.
- Proposed, negotiated and signed a number of reseller agreements with major BI vendors.
MicroStrategy Ltd, Slough, United Kingdom 2000 - 2001
Business Intelligence Consultant
- Provided BI consultancy to large enterprises worldwide for MicroStrategy product suite.
- Performed data modeling, database design and application of MicroStrategy products.
- Directly engaged with Fortune 100 blue-chip clients based in the UK and across Europe.
ETioNet Ltd, London, United Kingdom 1997 - 2000
MD/Management Consultant
- Initiated, developed and lunched a new business directory involving brand development, PR management, email campaign, sales, and marketing; and introduced innovative CRM tools.
IBM Ltd, Winchester, United Kingdom 1994 - 1997
Business Development Consultant
- Formulated product positioning strategy and competitive analysis of the middleware market.
- In conjunction with Gartner Group, developed product branding and market entry strategy.
- Co-performed for Alcatel (UK) Marketing in developing market strategy for telecom resells.
Areas of Expertise
Ermias Eshetu has a wide range of technical expertise in the areas of software engineering, business intelligence, business analysis, project management, banking, strategic planning, management, solving complex business problems and implementing business solutions in line with clients’ corporate strategies.
What have been the main lessons you have learned in your career and how do you implement them in your management?
There are far too many good ideas in the world and only a few could be truly utilized. In doing so, one’s fulfillment is not for oneself but rather for the impact it may have on others. To that effect, the need to embrace others, to persuade them to also champion the same, and to be resilient towards the goal is quite instrumental towards any success. But nothing matches the need to be flexible and adaptable to ideas of others or external factors. The equilibrium between one’s own idea and the need to adapt are the key skills that I have learnt the most.
Mentors
My father has always been instrumental in my upbringing and my professional development. As a toddler, his encouragement to experiment orthodox ideas and his inspirations for a solution-minded approach to challenges, in trying a different perspective to traditionally accepted norms, as well as by being resilient to external circumstances, were the key ingredients in my overall character and mindset.
Quotes
“Know what you want, and you are half way there already.”
“Personally, it’s the need to develop ones identity of mind, the ability to focus and analyze of the challenges ahead and to equip oneself with the knowledge or information needed to take first steps which is the key to professional and social accomplishments.”
