Key Architect of Ethiopia’s Capital Market, Brook Taye, Takes Helm of Sovereign Wealth Fund

Brook Taye (PhD), who has served as the Director General of the Ethiopian Capital Market Authority for the past two years, is departing to assume the role of CEO at Ethiopian Investment Holdings (EIH), the country’s sovereign wealth fund.

Brook has become the public face of the pre-nascent capital market as he leaves following an exemplary two-year stay. Brook’s tenure entailed spearheading the critical legal groundwork through a series of directives that paved the way for the establishment of a securities exchange, a strong supervisory framework for market participants, intensive public engagement to introduce the idea of financial markets to Ethiopia and much more.

He informed Shega about the transition as he aims to steer the EIH, which holds around 30 of the country’s largest state-owned enterprises.

He will steer the Fund, which is estimated to have over 150 billion dollars under management. The former senior advisor at the Finance Ministry, investment manager at A&A Capital, and regulatory analyst & economist at Windel’s Market Lane Mittendorf LLP.

Brook leaves a legacy of integrity, hard work, and penetrating acumen at the Authority. He has an extensive educational background, which includes a host of degrees in law and economics, culminating in a doctorate from the Ecole Polytechnic in France.

The establishment of capital markets is a crucial element of the massive macroeconomic reform being undertaken by the current administration, with Brook’s role intimately attached to it. The former DG will assume the position previously held by Abdurehman Eid Tahir at EIH.

Brook’s replacement at ECMA, Hana Teheklu, brings an extensive legal background as she assumes the position, according to a statement by the Authority. She has a bachelor’s in law from Mekelle University and a master’s from Addis Ababa University. Hana has broad experience as a prosecutor, with a focus on anti-corruption and economic crimes.