Former Dashen Bank President Moves to Nile

Lulseged Teferi, the former president of Dashen Bank has been appointed to a new position at Nile Insurance Company S.C (NIC). He took post as a Special Advisor to the board of directors in December 2016. The 69 year old is a veteran in the financial industry with more than 35 years experience in the banking sector.

He has held senior posts at the Commercial Bank of Ethiopia (CBE) and Construction and Business Bank (CBB). Lulseged was the General Manager of Ethiopian Insurance Corporation (EIC) from 1994 to 1995 and the first CEO of Nile Insurance Company (NIC) from 1995 to 1996 before he moved to Dashen where he was later appointed as the President of the Bank.

He graduated with a bachelor’s degree in business administration from the Addis Abeba University in 1973. He is also a chartered Insurer from the Chartered Insurance Institute (CII), London.

The firm recently lost its chief executive officer, Melaku Sissay.

Founded in 1995, Nile Insurance’s paid up capital has reached 180 million Br. It registered a 57pc decline in profits to 20 million Br in 2016.

Published on Jan 10,2017 [ Vol 17 ,No 871]



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