State Minister of Fiscal Policy and Public Finance
One of the responsibilities assigned to the Ministry of Finance is public financial management. The sector will formulate and monitor the country's fiscal and tax policies, allocate the necessary funds for development, transfer funds and budget support to the federal executive and state, and implement basic services in a comprehensive,
State Minister of Finance for Economic Cooperation
One of the functions and responsibilities assigned to the Ministry of Finance in accordance with Proclamation No. 916/2008 to determine the powers and functions of the executive branch is to mobilize and manage foreign resources. The Economic Cooperation Sector, which oversees the acquisition and management of foreign assets...
Semereta Sewasew is the Federal Democratic Republic of Ethiopia’s State Minister of Finance for Economic Cooperation. In this role, she leads the Ministry of Finance’s international economic cooperation policies and operations, with a focus on ensuring external resources are effectively managed and mobilized to provide maximum benefit and results for the people of Ethiopia. She also oversees the Ministry’s public-private partnership (PPP) policies and operations in an effort to deepen private sector engagement in Ethiopia’s projects and infrastructure. Prior to her service as State Minister, Semereta served in several roles within the Ministry of Finance, including Director of Public Affairs, where she managed public communications and outreach on the Ministry of Finance’s activities. She also served as a senior communication advisor for the economic reforms and Privatization Secretariat Coordinator where she managed a range of initiatives and technical work.
Semereta began her career over 20 years ago in the Ministry of Foreign Affairs where for seven years she provided guidance on strategic and diplomatic partnerships, economic and trade relationships, and related issues for countries in Asia and the Middle East. Semereta’s passion for improving the lives of disadvantaged and marginalized groups, including children, led her to work in senior leadership positions and on the governing boards of several civil society and international development organizations, including the Jerusalem Children and Community Development Organization (2007-2009) and the Christian Children’s Fund of Canada (2009-2019).
Semereta holds a Master’s degree in Journalism and Communications and a Bachelor’s degree in Political Science and International Relations both from Addis Ababa University.
H.E. Dr. Eyob Tekalign
State Minister of Finance
Dr. Eyob Tekalgn Tolina is currently a State Minister of Ethiopia’s Ministry of Finance. Previously, he was Minister in charge of Ethiopia's National Planning Commission. Mr. Tolina has spent over eighteen years helping shape Ethiopia’s economic and social development through various responsibilities within leading public, private, supranational, multinational, and academic institutions.
Mr. Tolina’s diverse background has spanned a variety of roles such as Minister Counselor at the Embassy of Ethiopia in Washington D.C., advisor to the Ethiopian governors of the IMF and World Bank, government and public affairs consultant to Fortune 500 multinational Dow Chemical, and his work for different government agencies including Ministry of Foreign Affairs and Ministry of Trade. Mr. Tolina has managed the Ethiopian Public Private Consultative Forum(EPPCF), the major platform for policy deliberation between the government and the private sector in Ethiopia. Mr. Tolina has also worked for a number of regional and international organizations including UNECA, COMESA, UNCTAD, the World Bank Group and the International Finance Corporation (IFC). Before his current role, Mr. Tolina has served as a director at SGI Frontier Capital, an American investment firm focused on the World's Frontier Markets.
These experiences have given Mr. Tolina a unique, balanced perspective on the challenges and opportunities facing developing countries like Ethiopia, a country that is aspiring to become the economic growth engine of Africa in the decades ahead.
Mr. Tolina is a political economist with strong skills in team building, effective advocacy, private equity investing, strategic planning, portfolio management, public relations, private sector development, and policy analysis. Mr. Tolina has a Masters from the George Washington University in Washington D.C and a PhD from University of Maryland’s School of Public Policy focusing on political economy.
Ministry of Finance is one of the key macro institutions with mandates focusing on fiscal policy, public finance and external economic. The Ministry of Finance, among others is given the following powers and duties
As per Article 16 of the Proclamation No.1097/2018 Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation, the Ministry of Finance is given the powers and duties (among others) to:
Formulate economic cooperation and fiscal policies that particularly serve as a basis for taxes, and duties; follow up the proper implementation of same; initiate reform recommendations.
Mobilize, negotiate and sign foreign development assistance and loans, and follow up the implementation of same.
Establish a favorable legislative framework to promote and facilitate the implementation of PPP financed infrastructure projects by enhancing transparency, fairness and long-term sustainability.
Prepare the Federal Government fiscal budget, make disbursements per the approved budget, and evaluate the utilization of the budget;
The ministries mandate was further extended following the reform efforts
Lead and coordinate economic cooperation with Bilateral, multilateral and regional organizations set up to create economic cooperation; follow up the impact of such links on the performance of the country's economy;
Be the depository of and safeguard the Federal Government's shares, negotiable and non-negotiable instruments and other similar financial assets;
Establish procurement and property management system of the Federal Government and supervise the implementation of same;
Establish budgeting, accounting, disbursement and internal audit systems for the Federal Government, and follow up the implementation; that are harmonized and aligned with international standards at the levels of both federal and regional governments; Prepare documents needed to privatize public enterprises; facilitates privatization processes in collaboration with relevant government bodies.
There are four primary policy and financial mandates of the MoF
Develop and implement fiscal policies.
Develop tax policies to improve domestic resource mobilization and support economic growth.
Ensure prudent public finance management for macro-economic stability and sustainable development financing.
Public finance management policies
Asses the medium term national budgetary needs and devise mechanisms to meet set budgetary needs
Asses the annual budgetary needs and allocate resources to national priorities - sectors, programs, projects
Develop systems and tools to improve PFM and safeguard public financial resources.
Ensure the prudent utilization of allocated budget to meet set goals through monitoring and audits.
Mobilize external resources.
Pursue international partnerships with countries and organizations to mobilize additional financial and non-financial resources to support national development plan
Ensure sustainable debt management and effective utilization of externally mobilized resources
Public Private Partnership
Establish a favorable legislative framework to promote and facilitate the implementation of PPP
Promotes PPP conceptualize, identify and categorize projects, make recommendations, establish policy and guidelines, coordinate activities and ensure compliance.