Commissioner's Resignation Takes Staff by Surprise

Aug 8 , 2020


[ssba-buttons]

The unexpected resignation of Ephrem Tekle (MD), head of the  Jobs Creation Commission, surprised the senior staff of the Commission. Ephrem resigned from his post on August 6, 2020, attributing his abrupt decision to personal reasons. The news caught the senior management off guard as the Commissioner was on duty until the announcement of his resignation, chairing meetings to discuss a newly launched project. Most of the Commission's staff learned about the news on Twitter along with everybody else, according to a senior staff member at the Commission. "We're still reeling from the news and haven’t processed it yet," this person told Fortune. Ephrem is the second high-ranking official to tender a resignation in a month and a half following the resignation of Abebe Abebayehu from the Ethiopian Investment Commission, where he had been serving as commissioner for two years. Ephrem, appointed to lead the Commission in December 2018, the same year the Commission was established, has been serving in the public sector for the past nine years at the Ministry of Health and Meqelle University.


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...