Enat Bank, one of the latest entrant to Ethiopia’s banking sector, has farewell its founding board chairperson, Meaza Ashenafi, who held the position starting from the bank’s inception. The decision was passed during the shareholders’ general meeting.

According to Fortune, during Meaza’s tenure, the Bank’s profits shoot up by 5 folds to almost 100 million Birr in the last fiscal year. She had also promoted the Bank, whose mission is to become a world-class bank mainly by leveraging women’s capabilities.

Other than being the chairperson for Enat Bank, Meaza is the Women’s Rights Adviser to the UN Economic Commission for Africa (ECA).

Last fiscal year the bank distributed 2.4 billion Birr loan. 30 percent of the loanees were women. Around 65 percent of the shareholders also belong to the female gender.

Source: Fortune