Addisu Departs Debub Global Bank

Tesfaye Boru (PhD), vice president of the Bank, will replace him as acting president.


Addisu Departs Debub Global Bank

Addisu Habba, president of Debub Global Bank, has resigned from office effective July 1, 2019. Tesfaye Boru (PhD), vice president of the Bank, will replace him as acting president. Addisu, who has 34 years of experience in the banking industry, is also a leader in the banking industry, serving as president of the Ethiopian Bankers’ Association for the past seven years. He joined Debub Global Bank in 2014, leaving the same position at Bank of Abyssinia where he served for five years, as well as working at Construction & Business Bank in different capacities. An economics graduate from the Addis Abeba University, Addisu did his postgraduate studies in banking and finance in an Italian university. Over the past five years, the Bank’s profit has shown a six-fold increase, growing from 18.4 million to 106.6 million Br in the last fiscal year. The Bank’s paid-up capital also jumped to over half a billion Birr last year, from 177.3 million Br five years ago. What prompted Addisu’s resignation remains undisclosed. However, it could be as a result of sharp disagreements with members of the board of directors over issues of interference, according to be people knowledgable of developments at the bank.


Radar

BRIDG-EATERIA

They say, "Where there is traffic, there is business." It reflects the colour of Addis Abeba roads and roundabouts. Around Bole, commonly known as the Ring Road, vendors serve tea and snacks underneath a bridge. Owing to these selling methods allow pedestrians and drivers to get the service they need while walking and driving. Despite that, such practice has become a frequent encounter in the heart of the city streets. The most common purpose of a ring road is to reduce traffic volumes in the ur...


Radar

WALKWAY DISPLAY

Pedestrian walkways around Addis Abeba are growing smaller by the day, competing to gain a foothold in the public spaces. The city, which prides itself as Africa's political and diplomatic capital, becomes a showcase of contrast. Beauty and affluence wrestle destitution and poverty to claim space. Vendors have displayed their second-hand outfits, shoes and luggage for sale on a roundabout in front of the Ministry of Education, up at the Arat Kilo area...


Radar

TRAILER HOMES

Retired city buses were once converted to bakery outlets retailing bread supplied by ‘Sheger Bakery' during their twilight zone. The city administration had used Anbessa City buses as its retail shops before formal outlets replaced them. Sheger Bakery, touted as the largest bakery and flour factory with the potential of baking two million loaves of bread daily, was to cater for millions of people in Addis Abeba with a subsidized bread supply but failed to live up to expectations. The old city...