National Bank of Ethiopia approved Wegagen Bank’s proposed vice president, Desalegn Embeza. The new president will replace Assega Tefera who resigned 1 month ago.

Dessalegn, according to Fortune, has served in different positions at the bank. Previously he served as branch manager for Teklehaimanot and Shire branches.

Among other things, the newly appointed vice president is tasked to head Branch Operations, International Banking and Credit Portfolio Management & Credit Relationship directorates.

In the recent past other private banks in Ethiopia have brought new faces to their respective executive positions. Among these, one is Tadesse Chinkel’s appointment as Bunna Bank CEO 3 weeks ago.

It was back in 1997 that Wegagen Bank started operation. Currently the bank boasts a 1.8 billion Birr paid up capital.

Source: Fortune