Debub Global Appoints New Board Chairperson

Bikila Hurrisa (PhD)


Debub Global Appoints New Board Chairperson

Debub Global Bank has appointed Bikila Hurrisa (PhD) as chairperson of its board of directors, while Yonas Ayalew was named deputy chairperson. The two were nominated by shareholders during the Bank's regular general assembly held in December of last year. Debub Global has been in a pickle with the National Bank of Ethiopia (NBE) after being involved in "activities that compromise the financial health of the Bank and tarnish its reputation." As a result, dividends to shareholders from the Bank's earnings last year was suspended by the NBE. The Bank straightened out the issue with the NBE after fulfilling its forex liabilities in two rounds, though some still remains outstanding, according to Tesfaye Boru (PhD), president of the Bank. Accordingly, the central bank lifted the restriction on dividends to be distributed to shareholders last month. Debub Global Bank generated 292 million Br in net profits over the 2019/20 fiscal year, a 39pc growth from the previous year. It earnings per share stood at 347 Br during the same period.

[ssba-buttons]

Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...