Policy Bank Freezes Loans by Ex-President

Sep 19 , 2020


[ssba-buttons]

The board of directors of the Development Bank of Ethiopia (DBE) has designated Yohannes Ayalew (PhD), former vice governor and chief economist of the National Bank of Ethiopia (NBE), as the new president replacing Haileyesus Bekele. The board has also frozen the loans approved by the outgoing president. Yohannes, who is also a board member of DBE, was an executive director at the Ethiopian Development Research Institute. Prior to assuming the presidential position, Yohannes left the board of the state policy Bank. The board of the Bank, following the resignation of Haileyesus, froze all the loans he approved, according to sources close to the case. Haileyesus, who tendered his resignation citing personal reasons on September 10, 2020, had served as the vice president of the Bank in charge of credit management until he was promoted to president on July 4, replacing Getahun Nana. Before moving to DBE in 2016, Haileyesus was president of the then Construction & Business Bank (CBB), which has since dissolved into the Commercial Bank of Ethiopia (CBE). Over the past two years, the Bank, well-known for amassing a high rate of non-performing loans, has been preparing a Five-Year Reform document to address its structural drawbacks.


Radar

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...