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CBE's Ex VP Takes Helm as President of Nib Bank, Marking a Milestone for Banking Industry

May 8 , 2024

Emebet Melese (PhD), former vice president of the Commercial Bank of Ethiopia (CBE) has assumed the role of president at Nib Bank, succeeding Genene Ruga who resigned months ago. Her appointment marks a notable change towards gender diversity in executive leadership within the industry. She became the second woman to currently hold a CEO position in a commercial bank.

Melkamu Solomon has been overseeing the bank's operations interimly until the recent approval of Emebet's appointment by the National Bank of Ethiopia (NBE) earlier this week. She brings a wealth of experience and expertise to her new role, having served as the vice president of the strategic planning and transformation office for the CBE. During her tenure, she spearheaded initiatives promoting organisational change and advancement. Her years with the CBE, which began in 2018 as the VP of Credit Appraisal, saw her progressively assuming diverse leadership roles, including VP of Corporate Quality Assurance. Her leadership played a role in driving the ongoing transformation of the CBE. Her academic background in accounting and finance from Addis Abeba University, coupled with her dissertation focusing on the role of organisational climate and market orientation on innovation within the banking industry, was focused on driving sustainable growth and innovation in banking.

Nib Bank's transition comes amid a phase initiated by the formation of a new Board of Directors, overseen by regulators at the NBE three months ago. The move was prompted by mounting concerns about corporate governance and shareholder grievances. The intervention by the regulators paved the way for changes during the general assembly, culminating in the election of Shisema Shewaneka as the new chairperson.

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