FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo

Teklewold Atnafu Assumes Chairmanship for Development Bank

Feb 13 , 2024

Teklewold Atnafu, monetary policy advisor to the Prime Minister, assumes the chairmanship at the Board of the Development Bank of Ethiopia (DBE), taking over from Tegegnework Getu.

Tegegnework, an alumnus of Addis Abeba and Colombia universities, previously served as the secretary general and administrator of the UNDP.

Signed by Habtamu Hailemichael, director general of the Public Enterprise & Administration, Teklewold's appointment becomes effective beginning yesterday, February 12.

A policy bank, DBE has declared 6.5 billion Br profit for the ended fiscal year. It had lowered its nonperforming loans from 43pc a few years ago to 11.3pc. Its capital has grown to 38 billion Br from 2.6 billion Br three years ago. It collected 25 billion Br from bonds bought by banks and pension funds last year.

Yohannes Ayalew (PhD), who had served as vice governor of the National Bank of Ethiopia (NBE) under Teklewold, before he was moved to the DBE as a CEO.

Teklewold ceded his role as chairman of the state-owned Commercial Bank of Ethiopia (CBE) late last week to Ahmed Shide, minister of Finance.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

When Arbitration and Litigation Begin to Blur

The new arbitration law seeks to make arbitral awards final. A binding ruling from th...

Ethiopia's Open Finance Future Closer Than It Looks

Ethiopia's digital finance story is no longer only about access to mobile money. It i...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

The Rent Law Protects No One Well. Time to Rewrite It.

Jun 27 , 2026

The federal legislative house rushed through one of the country's most contentious ho...

The Budget Bill Asks the Most from Citizens with the Least Slack

When Parliament takes up the appropriation bill, federal legislators will receive a d...

Logistics Reform Should Deliver More Than Market Entry by Foreign Capital

Jun 13 , 2026

The recent policy decision to fully open freight forwarding to foreign capital may be...

The Elections Offered Order at the Centre, Silence at the Edges

Jun 6 , 2026

For a political veteran as controversial as Getachew Reda, last week's national elect...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

The Fine Print Behind the Before-and-After

Not long ago, a friend proudly showed me before-and-after photos from a nutrition pro...

Prevention Starts Years Before the First Diagnosis

I often hear people say, “I'm only in my twenties,” or “I'm still in my thirtie...

Life Matters

The Hidden Cost of Cheap Snacks Lies Beyond the Price Tag

I bought a bag of chips the other day, tore it open, and found what felt like more ai...

A Cup of Juice, A Long Day, an Uncomfortable Realisation

Most of us love our children fiercely. It is perhaps one of the most universal human...