Tegegnework Gettu (PhD), the board chairperson of the Development Bank of Ethiopia (DBE), has been chosen to serve as board chairperson of the Liability & Asset management Corporation (LAMC). The Corporation was established earlier this year to retain and manage the residual debt of government enterprises with a capital of half a trillion Birr. Tegegnework had served in various UN organisations until 2018. His final post was United Nations Under-Secretary-General and Associate Administrator for the UNDP. The Corporation's board of directors are Helaway Tadesse, a senior director at Cepheus Capital, Meseret Bitew, chief financial officer of Ethiopian Airlines, and Wassihun Abate, a senior legal expert specialising in tax policy. A few weeks back the Mulualem Getahun, a veteran in finance and investment, was appointed as Deputy CEO of the Corporation, which is expected to retain earnings from the liberalisation of the telecom sector. The government of Ethiopia has awarded a 15-year telecom license to a consortium led by Kenya's Safaricom, for which it received 850 million dollars.
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