Anteneh Assefa, CEO of Ethiopian Commodity Exchange (ECX) has reportedly resigned and left the country, after serving ECX for only 20 months.
Sources told Capital that Anteneh, who led ECX since August 2012, after submitting his resignation to the board of directors, went to the United States with his family for unknown reasons. Anteneh was hand-picked to run the first African commodity exchange market by the founder and former CEO Eleni Gabre-Medhin (PhD).
Shimelis Habtewold, Chief Compliance Officer is now acting CEO. Capital unsuccessfully attempted to interview him regarding the sudden transition.
“I don’t have anything to say on this matter” Shimelis said.
Shimelis was a prosecutor for over 17 years, drafting legal documents and enforcing compliance matters in Ethiopia.
Anteneh had been responsible for the overall management of ECX since November 1, 2012 after serving as CEO Designate from August to October 31, 2012. He has close to fifteen years of experience in the financial industry in Ethiopia. He served in two banks, the Bank of Abyssinia and the Commercial Bank of Ethiopia. He had been Vice President of Operations and Strategic Planning for five and half years and also Acting President of the Bank of Abyssinia (BOA), after working at various positions for the Commercial Bank of Ethiopia (CBE). He holds a Post Graduate Degree in Corporate Management & Finance from the University of Pantheon Sorbonne, France in 2004 and a BA Degree in Management from the Addis Ababa University (AAU) in 1995.
ECX is designed as a public-private partnership enterprise, in a unique institutional innovation for Ethiopia. At its inception, ECX was promoted by the Government of Ethiopia. At the same time, ECX offers the sale of Membership seats, which are privately owned, permanently and freely transferable rights to the stream of earnings from trading on the Exchange.