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Auditor General declines Board appointment

The Auditor General, Gemechu Dubisso, is reported to have declined his appointment as member of the board of directors of the state owned Commercial Bank of Ethiopia (CBE) this week, The Reporter has learnt.

DBE to foreclose on Ayka Addis

The Development Bank of Ethiopia (DBE) is to foreclose on the bankrupted Turkish textile company – Ayka Addis Textile & Investment Group – in the coming one month, The Reporter has learnt.

Addressing diaspora trust fund issues

Many agree that the country’s current foreign currency crunch is in dire need of creative solutions as it has reached chronic level. In fact, it is critical now that the country is facing difficulty in importing lifesaving medication like insulin.

CBE to reintroduce project financing

A year after suspending mainstream project financing by Commercial Bank of Ethiopia, the National Bank of Ethiopia (NBE) has finally decided to allow the reintroduction of the loan services in the State-Owned banking giant CBE.

NBE introduces new loan policy, procedure for CBE, DBE

The National Bank of Ethiopia (NBE) has decided for the reintroduction of project financing by both the Development Bank of Ethiopia (DBE) and the Commercial Bank of Ethiopia (CBE), which was solely assigned to DBE a year ago. CBE was assigned to finance recurrent expenditures.

Bankers association reelects sitting president

The Ethiopian Bankers Association – a professional association of banks in the country – has reelected Addisu Habba to continue serve as president for the coming three years. Addisu is the president of Debub Global Bank.

The Association replaced the vice president, Bekalu Zeleke, president of the Commercial Bank of Ethiopia (CBE), by Abbie Sano. Abbie is the president of Oromia International Bank (OIB).