Central Bank Green-Lights Oromia Bank President

Jun 7 , 2020


The National Bank of Ethiopia (NBE) has approved the appointment of Teferi Mekonnen as president of Oromia International Bank. The board of directors of the Bank sent the application to the regulatory bank on March 7, 2020, following the departure of Abie sano, who was appointed to lead the Commercial Bank of Ethiopia (CBE). Abie departed Oromia after serving the Bank for almost 11 years. Teferi holds a first degree in accounting and a second degree in business administration from Addis Abeba University. he has worked in the banking industry for the past 22 years at CBE, Wegagen and Oromia banks in different capacities. Teferi, who served Oromia for the last nine years, served as founding director of risk management and compliance, vice president for corporate support and the latest vice president for credit and international banking. While working at the Bank, he established the Risk Management & Compliance Department and played an instrumental role in realising the current headquarters acquisition, renovation, furnishing and relocation.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email