FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo


Central Bank Approves Neway Beyene as Dashen Bank Chairperson

Central Bank Approves Neway Beyene as Dashen Bank Chairperson

Regulators at the central bank have approved Neway Beyene's re-election as the board chairperson of Dashen Bank, late last month.
Neway was first elected as the board chairperson during the Bank's 23rd ordinary shareholders assembly held at the Sheraton Addis in November 2017, replacing Teka Asfaw, who had served the Bank as board chairperson for three years. The Board of Directors re-elected Neway during the Bank's 27th ordinary annual shareholders assembly held on December 24, 2020, at Mechare Meda in the Sarbet neighborhood. Four existing and five new board directors were elected during the same session as well.
Neway, married and a father of four, obtained his BSc degree from Addis Abeba University in electrical engineering in 1984 and received his postgraduate studies in business leadership at the University of South Africa, in 2013. He started his career in 1984 as a trainee field engineer at NCR Ethiopia and served as office manager for Microsoft Ethiopia, for three years.
He is currently a general manager of Afcor Plc, an IBM business partner in Ethiopia.

[ssba-buttons]
Radar

Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...

Read more >>

Radar

Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...

Read more >>

Radar

ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...

Read more >>