The 100 Most Influential Africans 2022 List, a prestigious compilation of the continent’s leading figures across various fields, has recently recognized the contributions of two Ethiopian individuals: Abebe Selassie and Admassu Tadesse. These individuals, who are prominent leaders in the business field, have been recognized for their exceptional work.

The inclusion of Abebe Selassie and Admassu Tadesse on the list is a testament to their exceptional leadership skills and their significant contributions to the business field in Africa. As leaders of the IMF, they have played a crucial role in shaping the economic landscape of the continent. Their work with the IMF has been instrumental in providing financial assistance and economic guidance to countries in need, helping to promote economic growth and stability across the continent.

Abebe Selassie

In nearly three decades at the IMF, Abebe Selassie may have thought he had already seen it all when he was appointed head of the Africa department in 2016. He was after all the mission chief in Portugal during the Eurozone crisis, an extraordinary period when the Euro economy teetered on the brink and leaders scrambled around for last- minute solutions. But that may have only been preparation for the current moment of poly-crisis, as some have referred to the mix of pandemic-related sluggishness, rising global inflation, war in Europe and debt crises. Add to that the growing calls for a reordering of the global financial architecture, at the centre of which sit the World Bank and the IMF, and you have a perfect storm.

Abebe’s task has been to reassure countries in the global South that the IMF has indeed come some way from its hand-me-down prescription era of the 1980s and 1990s, while also making the case on their behalf that more has to be done and faster. Most importantly, he will have to lead on designing new interventions to support the poorest countries and literally save lives that are at risk from poverty, disease and climate risks.

Admassu Tadesse

Admassu Tadesse’s stewardship of the Trade and Development Bank (TDB), formerly known as PTA Bank, has seen it rise to become one of the top investment banks in the continent. The Group currently counts 24 economies in its continental coverage, including most COMESA member states and other countries like Botswana, Ghana, Mozambique, South Sudan, and Tanzania.

Steady rating upgrades have allowed it to build its muscle and place it in a position where it can finance transformational infrastructure, which will be critical for the continent’s ability to build resilience to climate change. Prior to joining the bank, Tadesse worked as an advisor, analyst and specialist with various international funds and organisations globally, before becoming Executive Vice-President at the Development Bank of Southern Africa. His strategy has been to build partnerships with various financial institutions, notably the African Development Bank, which has recently announced a new $15m commitment in TDB’s novel Class C Green+ shares.

This year, the bank welcomed an $8m investment from Agaciro Development Fund (AgDF), Rwanda’s sovereign wealth fund, and $11m from Tanzania’s pension fund, NSSF, which joined a cohort of now 20 institutional investors, including Denmark’s Investment Fund for Developing Countries, the OPEC Fund, People’s Bank of China, the Arab Bank for Economic Development in Africa and others. These small but important steps are changing the investment landscape. With this growing clout, Tadesse and the bank will continue to have a significant impact on the continental economy.