The National Bank of Ethiopia (NBE) has accepted the nomination of Wondwesen Teshome to serve as president of Enat Bank S.C., Fortune reported.

Wondwesen Teshome, former president of the state-owned Development Bank of Ethiopia (DBE), was approved by the country's financial regulator last week.

The National Bank informed the Board of Enat Bank of its decision on Thursday, January 23, 2012.

The post of president at Enat Bank has been vacant since late September, 2013. Fasika Kebede, Enat’s founding president, tendered her resignation letter in September following the Board’s decision to put her on forced leave, according to Fortune.

Enat joined Ethiopia's finance sector on March 5, 2013 as the country’s 16th private bank, with a subscribed capital of 260 million Br and 120 million Br in paid up capital.

Source: Fortune