Ethiopia's $150 Billion Nest Egg 🪺

Welcome to this week’s edition of ፍራንክ Digest!

Your weekly brief on all things Finance and Investing. Quick, enjoyable reads for busy professionals in 5 minutes or less.

Topics this week:

• 🌱 Grass is Greener: Financial Captain Jumps Ship to Manage $150 Billion Fund

• 🏗️ Deconstructing The 5 Most Uncommon Bank Fees!

• 🗝️ The Key Takeaways

Thanks for reading!

Shifting Seats From the Head of ECMA to EIH

Finance

Well, folks, it looks like there's a bit of musical chairs happening in the Ethiopian finance world!

Dr. Brook Taye, who has been a central figure in Ethiopia's capital market development as the Director General of the Ethiopian Capital Market Authority (ECMA), is moving on to a new role as the CEO of Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund. For those not in the loop, this isn’t just any job hop—it’s a move that could ripple through the Ethiopian economy in some very interesting ways.

Dr. Brook’s exit coincides with the ECMA about to unveil the fruits of his years-long labor: the Ethiopian Securities Exchange (ESX). Indeed, the star performer is leaving the stage just as the big show is about to begin - talk about making a dramatic exit!

What’s the Big Deal with Ethiopian Investment Holdings?