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DBE Dismisses Long-Serving Vice President

Dec 30 , 2025

Getachew Wake, the longest-serving executive at the Ethiopian Development Bank (DBE), has been dismissed as vice president, effective December 26. His removal marks a moment in a broader reshuffle at the state-owned policy bank, which is undergoing one of its most turbulent leadership changes in recent years.

Getachew's departure comes after more than two decades of service, during which he occupied various strategic roles and became a fixture in the Bank’s senior leadership. His exit coincides with an ongoing wave of top-level departures, including three major changes in the executive suite and boardroom in the last three weeks.

Teklewold Atnafu, former governor of the Central Bank, has been replaced by Brook Taye (PhD) as the chairperson of DBE’s board. Brook, who is also the CEO of Ethiopian Investment Holdings (EIH), arrival has set in motion a recalibration of the Bank’s direction and leadership prompted by reported tensions over senior management appointments and structural authority within the financial institution.

As part of the shake-up, Essayas Kassa (PhD) has been appointed president of the DBE, succeeding Emebet Melese (PhD). Essayas, a former staff member of the founding executive team at the Ethiopian Capital Markets Authority (ECMA) under Brook’s leadership, signalled a potential shift in DBE’s operational emphasis.

In an official communiqué, Brook acknowledged Getachew’s longstanding contribution to the Bank and confirmed his dismissal from the vice presidency.

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