Safaricom Ethiopia Appoints Ermias Eshetu as Advisory Board Chairman, Advancing Local Leadership
Ermias Eshetu is a strategic leader and transformation champion with over 25 years of experience across Africa and Europe, widely recognized for advancing Ethiopia’s economic modernization and private-sector growth.
Safaricom Telecommunications Ethiopia PLC has announced the appointment of Ermias Eshetu as Chairman of its Advisory Board, effective 10 November 2025. This appointment marks a significant milestone in the company’s ongoing effort to place more Ethiopians in senior leadership and decision-making roles. Ermias joined the Safaricom Ethiopia Advisory Board as its first Ethiopian member on 21 March 2025. His elevation to Board Chairman represents a new chapter in the company’s localization and leadership development journey. In his new role, Ermias will lead and coordinate the Board to ensure its effectiveness. As the Board Chairman, Ermias will also represent the company externally.
“We are pleased to welcome Ermias as our new Chairman, his wealth of experience in finance, governance, and institutional transformation, combined with his deep understanding of the market, positions him to guide the company into its next phase of growth. His appointment marks another important step in ensuring Ethiopians lead at the highest levels of the company. By placing an Ethiopian leader at the helm of its Board, Safaricom Ethiopia reinforces its commitment to local leadership, inclusive growth, and long-term investment in the Ethiopian economy.”
– Peter Ndegwa, Chairman of the Global Partnership for Ethiopia Board, CEO, Safaricom PLC CEO
Ermias Eshetu is a strategic leader and transformation champion with over 25 years of experience across Africa and Europe, widely recognized for advancing Ethiopia’s economic modernization and private-sector growth. He has steered major institutions through reform and innovation, most notably as Chief Executive Officer of the Ethiopia Commodity Exchange (ECX), where he launched Ethiopia’s first national electronic trading platform modernizing agricultural markets, increasing price transparency, and expanding market access for millions of farmers.
A founding member of Zemen Bank and later its Chairman, Ermias helped shape one of Ethiopia’s most governance-driven and innovation-led banking models. As a founding CEO, he established FSD Ethiopia, building on his work with FSD Africa where he led financial-market development initiatives that strengthened Ethiopia’s capital markets, regulatory frameworks, and investment ecosystem. His earlier career with IBM, Alcatel, Orange, and MicroStrategy in Europe provided deep expertise in technology, digital transformation, and corporate strategy a foundation that continues to guide his leadership across finance, governance, and development.
Ermias is determined to see Safaricom Ethiopia’s success become a national pride and symbol of Ethiopia’s readiness for private-sector investments, a goal that aligns closely with the Government of Ethiopia’s macroeconomic reform agenda. Under his leadership, Safaricom Ethiopia’s Board will focus on strengthening governance, deepening job creation, and embedding world-class corporate practices to drive inclusive digital-economic growth across Ethiopia.
Ermias succeeds Peter Ndegwa, who served as the Chairman of both the Global Partnership for Ethiopia (GPE) Board, and Safaricom Ethiopia Advisory Board since March 2025. Peter will continue as the chairman of the GPE Board, which includes British International Investment (BII), International Finance Corporation (IFC), Vodacom, Vodafone, Safaricom PLC and Sumitomo Corporation.
