Central Bank Green-Lights Oromia Bank President

Jun 7 , 2020


[ssba-buttons]

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

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...