By our staff reporter

The Ethiopian Securities Exchange (ESX) has announced a leadership transition following the departure of its founding Chief Executive Officer, Tilahun Esmael Kassahun, after four and a half years at the helm.

The ESX Board of Directors has appointed Yodit Kassa as the exchange’s new chief executive officer. She is expected to lead the institution through its next phase of growth and market expansion.

Tilahun played a central role in transforming the securities exchange from an initial concept into a functioning institution. His tenure began with the establishment of the ESX Project Office in partnership with Ethiopian Investment Holdings and FSD Africa.

Under his leadership, the exchange achieved several milestones, including a major capital raise, the formation of key public-private partnerships, and the development of its regulatory, governance and technology frameworks.

The outgoing CEO described his time at ESX as a once-in-a-generation institution-building experience and the greatest privilege of his professional career.

“Building ESX from an idea into a functioning institution has been an extraordinary journey,” Tilahun said, reflecting on his departure. He expressed confidence in the exchange’s foundation and its future contribution to Ethiopia’s financial sector.

Yodit brings extensive institutional knowledge to the role. She has been involved with ESX since its early project phase and previously served as Chief Business Officer and Chief Operating Officer.

In those positions, she contributed to the exchange’s strategic development, business planning and operational framework. Her appointment is expected to provide continuity as ESX moves from institution-building into broader market development.

As CEO, Yodit will focus on expanding the exchange’s issuer and investor base, increasing participation in the capital market and introducing new products and market segments.

Her priorities will also include strengthening ESX’s core market infrastructure and positioning the exchange as a catalyst for investment, innovation and economic transformation.

The leadership change comes as Ethiopia seeks to deepen its financial markets and expand access to long-term capital. A functioning securities exchange is expected to provide companies with additional financing options while offering investors new avenues for investment and portfolio diversification.

ESX said Tilahun’s contribution had been instrumental in laying the groundwork for the exchange’s operations and long-term development. The board expressed appreciation for his leadership and service during the institution’s formative years.

Air India’s Board of Directors has announced the immediate appointment of aviation veteran Tewolde Gebremariam as the airline’s new Chief Executive Officer and Managing Director. He succeeds Campbell Wilson, who has led the Tata Group-owned carrier since its privatization in 2022.

The appointment marks a pivotal turning point for Air India as it closes the book on its foundational turnaround phase and accelerates into an era of aggressive growth, operational integrity, and profitable execution.

N. Chandrasekaran, Chairman of Tata Sons and Air India, welcomed the decision with great enthusiasm, stating that Gebremariam’s proven track record in building one of the world’s most efficient and profitable airline groups makes him uniquely qualified to lead Air India into its next chapter.

Tewolde Gebremariam is widely recognized as one of the aviation industry’s most esteemed and successful executives. During his 11-year tenure as Group CEO of Ethiopian Airlines from 2011 to 2022, he spearheaded a multibillion-dollar expansion that transformed the regional carrier into Africa’s largest and most profitable airline group.

His extensive expertise extends far beyond managing complex operational environments, expanding competitive global hubs, and driving cultural transformation. Throughout his career, he successfully navigated severe crises—including SARS, MERS, Ebola, the Boeing 737 MAX grounding, and the COVID-19 pandemic—maintaining profitability without accepting government bailouts or resorting to employee layoffs.

​Prior to finalizing this role, reports indicated Tewolde was selected as CEO of Pakistan International Airlines (PIA) following its July 2026 privatization, pending security clearances. Ultimately, the Air India Board secured his leadership to steer its massive global ambitions.

With today’s official announcement on August 5, 2026, the Air India Board of Directors has successfully confirmed and finalized his appointment.

Consequently, the incoming CEO takes the helm during a challenging period for Air India. The airline is currently navigating financial losses, heightened regulatory scrutiny following the tragic 2025 crash that claimed 260 lives, and operational disruptions stemming from regional conflicts affecting international routes.

Tewolde is widely expected to bring the critical leadership capabilities required for Air India’s next phase of development.

“We are now entering a critical era of execution and expansion,” Chandrasekaran remarked, noting that Air India has successfully completed its initial phase of stabilization, integration, and fleet commitments under Wilson’s leadership. “Tewolde’s operational expertise, unwavering commitment to safety, and vision for hub development will be instrumental in establishing Air India as a premier global carrier and a source of national pride.”

Accepting the role, Tewolde expressed deep enthusiasm for the challenge ahead. ​”Air India carries an incredible legacy, and the opportunity to build a world-class global airline that reflects India’s extraordinary economic potential is deeply exciting,” Tewolde stated.

He added that his primary priorities will be ensuring exceptional operational reliability, elevating service standards through warm Indian hospitality, and fostering sustainable long-term growth in partnership with employees, government authorities, and industry stakeholders.

According to the board directors, Tewolde’s appointment aligns seamlessly with Air India’s broader mission to support India’s civil aviation aspirations and cement the nation’s status as a premier global aviation hub.

The airline is currently executing one of the world’s largest fleet modernization initiatives, featuring orders for 600 new aircraft, comprehensive cabin retrofits, and the development of South Asia’s largest aviation training academy.

Ethiopia has officially transitioned its National ID Program into a State-Owned Enterprise (SOE) named Faydaverse. The newly established entity has been integrated into the portfolio of the Ethiopian Investment Holdings (EIH), the nation’s sovereign wealth fund, marking a significant evolution from a government project into a commercially sustainable, institutionalized body.

Announced during an inauguration event on August 4, 2026, this advancement represents a critical step in ensuring the long-term viability and expansion of the Fayda Digital ID ecosystem, which is rapidly becoming the backbone of the country’s digital economy.

Originally launched in 2021, the Fayda Digital ID project was designed to provide every legal resident and citizen with a unique 12-digit identification number utilizing biometric technology. This initiative served as a core pillar of the “Digital Ethiopia 2025 Strategy,” aimed at resolving the inefficiencies of fragmented identification systems.

Prior to Fayda, citizens largely relied on inconsistent, paper-based Kebele identification cards that lacked centralized databases, creating major hurdles in accessing services ranging from banking to government programs.

Operating as a Digital Public Infrastructure (DPI) enterprise, Faydaverse will anchor several advanced solutions, including biometric platforms, electronic Know Your Customer (eKYC) services, and trusted digital credential wallets.

Established in December 2021, the Ethiopian Investment Holdings was formed to manage, optimize, and grow the nation’s primary asset portfolios. It currently manages assets valued at approximately $45 billion, making it one of Africa’s largest sovereign wealth funds.

EIH oversees a broad portfolio of around 40 companies, including corporate giants such as Ethiopian Airlines Group and Ethio Telecom. By incorporating Faydaverse, EIH provides the governance framework and commercial discipline critical for scaling a data-driven enterprise.

Brook Taye CEO of EIH, noted that this integration will position Faydaverse to “scale sustainably, attract partnerships, and create long-term value for Ethiopia.”

To date, the Fayda ecosystem has registered over 46 million residents, enabled more than 150 enterprise integrations, and facilitated over 190 million secure authentication processes. The program ultimately aims to reach 90 million registrations to substantially drive economic inclusion.

As Ethiopia accelerates its national digital transformation journey, it faces an increasingly complex landscape of cyber threats. According to a newly released Interpol African Cyberthreat Assessment report, Ethiopia ranks fifth on the continent for digital vulnerabilities, highlighting an urgent need to reinforce its digital infrastructure.

Based on data collected from 36 African member states and organizations such as the Shadowserver Foundation, the comprehensive assessment indicates that rapid technological growth is outpacing cybersecurity defenses and institutional readiness. Consequently, Ethiopia accounts for 3.3 percent of all detected vulnerabilities across the continent.

Across Africa, direct economic losses from cybercrime have neared USD 5 billion, while total cybersecurity expenditures have reached USD 15.3 billion. Reported financial losses more than doubled—surging from USD 192 million to USD 484 million—while the number of identified victims rose from 35,000 to 87,000.

Cyberthreat intensity varies by region, with digital crimes in West and Southern African nations accounting for over 30 percent of all reported incidents. Meanwhile, East Africa falls into the medium-to-high risk category, driven by mobile money fraud, telecommunications breaches, and infrastructure-targeted ransomware attacks. These threats primarily stem from fundamental gaps in patch management, cyber hygiene, and resource allocation within both the public and private sectors.

Interpol noted that the most frequently exploited entry points include unpatched software systems, exposed virtual private networks (VPNs), and misconfigured document management platforms. Due to malicious actors leveraging artificial intelligence and machine learning tools to scan thousands of systems per second, Ethiopia hosts 1.36 percent of the continent’s botnet nodes. Furthermore, AI-driven digital sextortion has emerged as a critical social concern, with the country registering approximately 8 percent of specific continental benchmark figures.

These vulnerabilities reflect broader regional pressures. In neighboring Kenya, distributed denial-of-service (DDoS) attacks targeting telecommunications systems exceeded 46,786 in the first half of 2025 alone, while SIM-swap fraud surged by 327 percent. Critical infrastructure across the region remains highly vulnerable: the Uganda Electricity Transmission Company Limited (UETCL) fell victim to a suspected Qilin-led ransomware attack, and Seychelles experienced a targeted breach on its central bank database.

Law enforcement agencies across Africa face severe operational challenges. Among surveyed agencies, 94 percent report a lack of adequate digital forensics tools, 78 percent cite insufficient budgets and specialized personnel, and 89 percent identify gaps in cross-border cooperation as a primary obstacle.

Interpol and cybersecurity experts urge leaders to prioritize robust cross-border collaboration, stringent cyber hygiene standards, enhanced public-private partnerships, and innovative legislative frameworks to safeguard the nation’s critical infrastructure and citizens.