Debub Global Appoints New Board Chairperson

Bikila Hurrisa (PhD)


Debub Global Appoints New Board Chairperson

Debub Global Bank has appointed Bikila Hurrisa (PhD) as chairperson of its board of directors, while Yonas Ayalew was named deputy chairperson. The two were nominated by shareholders during the Bank's regular general assembly held in December of last year. Debub Global has been in a pickle with the National Bank of Ethiopia (NBE) after being involved in "activities that compromise the financial health of the Bank and tarnish its reputation." As a result, dividends to shareholders from the Bank's earnings last year was suspended by the NBE. The Bank straightened out the issue with the NBE after fulfilling its forex liabilities in two rounds, though some still remains outstanding, according to Tesfaye Boru (PhD), president of the Bank. Accordingly, the central bank lifted the restriction on dividends to be distributed to shareholders last month. Debub Global Bank generated 292 million Br in net profits over the 2019/20 fiscal year, a 39pc growth from the previous year. It earnings per share stood at 347 Br during the same period.


Radar

HOLY REFRESHMENTS

A young deacon baptises an eager crowd at Timket festivities around Janmeda field. Immersion in water represents a rebirth in initiation ceremonies in history. It symbolises the breaking of amniotic fluid (a liquid that surrounds the fetus) during birth, hinting towards a second birth on the planet. Water has had deep sociopolitical significance for Ethiopia as the construction of the Grand Ethiopian Renaissance Dam (GERD) has been proceeding under three Prime Ministers. Exeeding the initial bud...


Radar

BARKING SPOT

On a scorching hot afternoon, a pack of stray dogs take shade under a tree on Debrezeit road. A third of Ethiopia's landmass was reported to be covered in trees in the 19th century, deforestation has put that number at around 10pc. Emperor Minelik II was the first leader of Ethiopia to engage in reforestation as he imported the Australian Eucalyptus in 1895. Prime Minister Abiy Ahmed (PhD) also is enamoured by lush greenery to the degree he launched the Green Legacy Initiative three years ago...


Radar

GREEN GLAZE

A street vendor sells fresh-cut grass around Kera for the holiday season. Most households embellish the holiday atmosphere at home, by spraying 'Qetema' in the house. A green glaze is expanding across the capital, with a new public park being announced every few months. Lemi Park in the recently formed Lemi Kura sub-city is the latest of these projects scheduled for a 10 months construction period. Friendship and Entoto parks, with the Prime Minister Office overseeing the construction, have beco...