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Anteneh Assefa, Vice President of Operations at the Bank of Abyssinia has been nominated as the president of Zemen Bank, Ethiopia. The Board of Directors of Zemen Bank has submitted its nomination to the National Bank of Ethiopia.

The last president of Zemen Bank Brutawit Dawit resigned earlier this year for personal reasons. Helawi Tadesse, Senior Vice President has been acting president ever since. The board of Zemen decided upon a nominee after serious deliberation assessing professionals in the banking sector according to sources.

Zemen Bank sold 35 million birr worth of shares in six hours last week. The shares were offered to existing shareholders as per a decision reached at the annual meeting of the bank.

The annual meeting held this past September agreed to increase the capital of the bank by 100 million birr with remaining shares, after shareholders were offered shares in proportion to their existing holdings, to be sold in the month of December.

The bank management had expected to complete the sale of the shares in 30 days according to sources at the bank.

Zimbabwe is gaining from Ethiopia’s best practices on Kaizen implementation strategy as it has managed to improve products and productivity of manufacturing industries including other productive sectors as well, The Ethiopian Herald reported.

Zimbabwean billionaire businessman Strive Masiyiwa's Econet Global Limited, a telecom company owned by Zimbabwean businessman Strive Masiyiwa, seeks to obtain a telecom license in Ethiopia, Bloomberg reported.

ZTE, China’s prominent global telecom equipment and solution supplier, inaugurated its 4G terminal devices on Wednesday, April 22, 2015 in Addis Ababa, Ethiopia, according to Xinhua.