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

May 11 , 2024


[ssba-buttons]

  Emebet Melese (PhD), former vice president of the Commercial Bank of Ethiopia (CBE), has recently taken on the role of president at Nib Bank, succeeding Genene Ruga, who resigned several months ago. Her appointment is a notable step towards gender diversity in executive leadership within the banking industry, making her the second woman currently holding a CEO position in a commercial bank. Melkamu Solomon had been overseeing the bank's operations on an interim basis until Emebet's appointment was officially approved by the National Bank of Ethiopia (NBE) last week. Emebet brings a wealth of experience and expertise to her new role, having served as the vice president of the strategic planning and transformation office at CBE. During her tenure, she led initiatives aimed at promoting organisational change and advancement. Starting in 2018 as the VP of Credit Appraisal at CBE, she progressively took on diverse leadership roles, including VP of Corporate Quality Assurance. Her leadership was instrumental in driving the ongoing transformation of CBE. With an academic background in accounting and finance from Addis Abeba University, Emebet's dissertation focused on the role of organisational climate and market orientation on innovation within the banking industry. Following growing concerns about corporate governance and shareholder grievances, Nib's transformation began with the establishment of a new Board of Directors, overseen by regulators at the NBE three months ago. Regulatory intervention paved the way for changes during the general assembly, electing Shisema Shewaneka as the new chairperson. Married and a mother of three, Emebet steps into her new role at Nib Bank during a critical period. She is now tasked with the responsibility of restoring Nib Bank's public image and rebuilding trust in leadership among customers and shareholders. "I'm committed and hopeful," Emebet told Fortune.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...