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

Arcane Markers

Hamere Berhan' at old post office prints books using ancient paper made from animal skin called 'Birana' .  The printing press is part of EOTC Ethiopian Tewahdo Orthodox Church which has had scribes for close to two millenia. Shortage of paper is still a problem in Ethiopia all newsapapers in the country are printed at one printing press , Birhana Selam around 4 kilo. This due to the fact there is a shortage of paper supply , no other printing press the government owned one have the forex to i...


Radar

Green Shift

A palm tree is moved to a new location for replanting around Meskel square. The global effort to battle man made climate change has gained steam over the last few years. African countries have shifted gear in tryin to unlock climate financing from the global north. With debt to GDP ratios averaging around 62pc continent wide, many countries are utilizing the climate narrative to get debt structuring. This one of the appeals of the PM of Ethiopia when he addressed the AU summit a month ago...


Radar

Strucural Makeover

Area around Ambassodor famous for its souvenir shops is getting demolished for real estate development. The A.A city administiration has ramped up efforts to remodel the city' s architecheure over the last few months. The capital was established by his majesty Emperor Menelik 137 years ago. He has also introduced the first telephone, car , hotel, hospital and host of other things to the country. A construction project headed by the mega projects office is 70 pc complete to commemorate his victor...