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Tseday Bank Eyes Yohannes as Next President

Feb 4 , 2026

Tseday Bank is close to naming its second president since evolving from a credit and savings cooperative in the Amhara Regional State.

Its Board of Directors has appointed Yohannes Ayalew (PhD), a veteran economist who once served as a vice governor of the National Bank of Ethiopia (NBE), pending regulatory clearance. His selection by the Board marks a critical juncture for the Bank, which has absorbed a 2.13 billion Br loss for the 2024/25 financial year.

If approved by the NBE, Yohannes will succeed Tseday Bank’s founding President, Mekonnen Yelewumwesen, who stepped down in January this year. Since then, the role has been filled on an interim by Yeshiemebet Tefera.

Yohannes brings with him more than two decades of experience. His early career was shaped at the Central Bank, where he spent nine years as chief economist. His policy-oriented background also includes time at the Policy Studies Institute and leadership roles with Africa Trade & Investment Development Insurance, where he served as country director.

His tenure at the Development Bank of Ethiopia (DBE) from 2018 to 2022 was particularly noteworthy for attempts to steer the policy bank away from non-performing loans and toward more commercially sound lending, though results were mixed.

Most recently, Yohannes helmed Amhara Bank, one of the fourth-generation private lenders. He was appointed amid financial strain and internal turmoil. In less than 16 months, he led the bank from loss-making territory to a pre-tax profit of 655 million Br, an 85pc increase over the previous year.

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