DBE appoints five new vice presidents following leadership transitions

The Development Bank of Ethiopia (DBE) has appointed five new vice presidents as part of ongoing efforts to strengthen its leadership amid recent transitions, including the departure of a long-serving executive.

This appointment follows a series of leadership changes at DBE, such as the December 2025 ousting of top executives over internal disputes and the subsequent departure of a long-serving vice president. The move aims to bolster the bank's organizational structure and enhance its role in Ethiopia's economic development financing. Details on the new appointees or precise appointment dates were not disclosed.

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Dr. Fitsum Assefa announces Ethiopia's strong economic growth at Prosperity Party meeting in Addis Ababa.
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Ethiopia registers strong economic growth, says Fitsum Assefa

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The Prosperity Party's executive committee concluded its three-day regular meeting in Addis Ababa. Minister of Planning and Development Fitsum Assefa (Dr.) stated that Ethiopia is registering strong and quality economic growth. The meeting discussed national and party issues.

A long-serving vice president at the Development Bank of Ethiopia (DBE) has stepped down, continuing a series of leadership transitions at the institution following the recent ousting of top executives over a boardroom dispute.

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The Development Bank of Ethiopia (DBE) has implemented an administrative change by ousting its top leadership. This follows a boardroom dispute that spilled over into management. Specific details on the individuals affected remain undisclosed in available reports.

The National Bank of Ethiopia (NBE), under Governor Eyob, eliminated the 7% minimum interest rate floor on savings deposits in late December 2025, allowing market-driven rates to restore monetary policy credibility amid economic challenges.

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Siinqee Bank has entered the investment banking sector with substantial capital, as reported by Addis Fortune, Ethiopia's leading business news outlet. This move marks the bank's expansion into new financial services.

Abyssinia Bank and Visa have signed a five-year strategic partnership to facilitate digital payments in Ethiopia. The agreement aims to enhance financial inclusion and secure electronic payment accessibility. Both institutions will collaborate to expand digital payment solutions key to the country's development.

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Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib announced that private sector investment rose 73% over the past year and continued to increase by 48% in the first quarter of this year. These statements came during meetings with the European Bank for Reconstruction and Development (EBRD) on the sidelines of the World Economic Forum in Davos. The ministers discussed boosting the bank's investments in Egypt and enhancing the national economy's competitiveness.

 

 

 

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