Massive Facelift Occurs at the Policy Bank

The Development Bank of Ethiopia (DBE), the state policy financier, has replaced four of its vice presidents effective as of May 2, 2017.

Tadesse Hatiya, vice president of credit management, Teka Yibrah, vice president of corporate services, Almaz Tilahun, vice president of finance & banking management, Dereje Awgichew, vice president of project financing, are the VPs who lost their positions.

The new vice presidents of the Bank who were assigned by Getahun Nana are Getachew Waqe Haileyesus Bekele, Hadush Gebreegziabher and Endalkachew Mihretu, assuming the posts of the outgoing VPs.

Teshome Alemayehu will stay at his current position as VP of Lease Finance & Branch Operations.

A new structure introduced after Getahun Nana became president of the Bank is the primary reason for the replacement of the VPs, according to a source close to the Bank.

The fate of the outgoing VPs is not yet decided, the same source disclosed. But the letter given to the outgoing VPs reads they were removed from their post with acknowledgement.


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