Banking Titan Leikun Berhanu Dies After Decades of Shaping Ethiopia’s Financial Sector

Ethiopia has lost one of its most influential financial architects. Leikun Berhanu, whose name became synonymous with leadership across both state and private banking institutions, has died. His career, stretching over five decades, defined key moments in the country’s financial transformation.

He first emerged in the 1970s as President of the Commercial Bank of Ethiopia, taking the helm of the nation’s largest bank during a time of immense national change. His steady hand helped the institution navigate political upheavals and economic uncertainty, preserving public trust in the formal banking system when few could. It was a time when Ethiopia’s financial infrastructure required both resilience and bold decision-making—traits Leikun demonstrated early on.

Following the political shift of the early 1990s, Leikun was called to serve in one of the country’s most critical roles. As Governor of the National Bank of Ethiopia from 1991 to 1995, he stood at the center of Ethiopia’s economic reorientation. The nation was shifting from a command economy to a more open, market-guided structure. During this fragile and foundational period, he led efforts to modernize banking regulation, stabilize currency policy, and oversee the emergence of new private financial players. His time at the central bank helped usher in the early foundations of the banking landscape as we know it today.

In the early 2000s, he transitioned into the private sector and took charge of Awash Bank, one of the country’s earliest private banks. His leadership there marked another chapter of innovation and institutional growth. Over 14 years, Leikun expanded the bank’s reach and relevance, turning Awash into a dominant force in the market. His presence brought credibility to a sector still earning its place in a state-heavy economy.

He also held management roles at Addis Ababa Bank, a private institution founded during the reign of Emperor Haile Selassie I. Additionally, he served as the Chief Operating Officer of the Agricultural Crops Market Organization and held managerial positions in the transport and communication sectors, according to The Reporter.

As a mark of enduring respect, the Commercial Bank of Ethiopia honored his legacy by naming one of its all-women-operated branches after him—an acknowledgment not only of his past leadership, but of the values of trust and innovation he embodied.