Former Dev’t Bank VP Takes Up Another VP Position at Nib Bank

Nib International Bank S.C (NIB) appointed Genene Guga, former vice president of the state owned policy financier, Development Bank of Ethiopia (DBE), as vice president of operations, a position which was vacant for many months.

“The Bank was searching for a vice president who could fit the vacant post for months and we finally got Genene,’’ said Mulugeta Dilnesaw, NIB’s corporate planning and business development director.

Genene, who served DBE as vice president of corporate services for seven years, took his position at NIB three weeks ago after the Bank received approval from the National Bank of Ethiopia (NBE). The central bank approved Genene as the new vice president of NIB based on its directive titled The Requirements for Persons with Significant Influence in the Bank (No 54/2012), which requires a candidate for the positions of vice president and senior executive officer of bank to have a BA degree from a recognized institution and eight years of experience in the banking industry, of which the four years should be at managerial positions.

Genene has a BA Degree in agricultural economics from Alemaya University, now called Haromaya University; he has a Master’s Degree in Business Administration, specializing in Finance Management from Indira Gandhi National Open University (IGNOU). He also has two post graduate diplomas in management and financial management. He has been working in DBE for 28 years rising from junior loan officer, branch manager, and regional manager until he became vice president of corporate services in 2007.

“I worked at DBE for many years and now I want to change the working environment. That is why I joined Nib,’’ said Genene, who resigned from DBE on November 28, 2014, with the board giving its approval on the same day.

The position Genene left at DBE is corporate services, one of four sections under vice presidents, including branch operation services, credit services and support services. He was responsible for managing human resources, communications, promotions, and planning. He now holds the same position of vice president at NIB but as an operations manager, overseeing the daily activities and operations of the Bank.

Established back in May 1999 by 717 shareholders, NIB has now reached 3,500 shareholders and is operating with 91 branches across the country. The Bank has 19 management members headed by the president, Kibru Fonda, and three vice presidents under him. The three vice presidents are Gashawtena Amdetsion, responsible for support and modernization, Solomon Gomesh, who leads resources and facilities and Genene, who will manage operations.

Dereje Awgechew, a BA degree holder from Haromaya University in agricultural engineering, and who has been working at the DBE for the past 24 years rising from junior loan officer to loan services director, replaced Genene as vice president of corporate services effective January 1, 2015. On the same day, DBE also assigned Teka Yibrah by replacing Girma Worke as vice president of support services.

NIB enjoyed a 313.7 million Br profit after tax during the last fiscal year of 2013/14 with a total asset reaching 10.7 billion Br.


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