Ahmed Abetew was appointed as chairman of the board of directors of the Development Bank of Ethiopia. Ahmed, who succeeded Mekonen Manyazewal as Minister of Industry few weeks ago, will now also replace Mekonen as chairman of the state owned-bank. Mekonen’s replacement came only three weeks after his appointment. Mekonnen is also chair of the board of the country's central bank, National Bank of Ethiopia.
Previously, Ahmed was deputy administrator of the Amhara Regional State and headed the region’s Industry & Urban Development Bureau. Since 1992, he has headed several bureaus within the Amhara region, including trade, industry development and urban development bureaus, as well as the Finance & Economic Development Bureau.
The board of directors of the Development Bank of Ethiopia include Ahmed Hamza, from the Information Network & Security Agency (INSA); Wassihun Abate, legal department head at the Ministry of Finance & Economic Development (MoFED); Abdulaziz Mohammed; Sileshi Lemma, director general of the Textile Industry Development Institute; Haileselassie Tekie, general manager of the Horticulture & Flori-culture Development Agency and Ayana Zewde.
Development Bank of Ethiopia is planning to extend 21.9 billion Ethiopian birr loan to the manufacturing sector and 16 billion birr to the agricultural sector by the end of this Ethiopian Fiscal Year.
Source: Fortune
