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The National Bank of Ethiopia approved 10 nominees for the Board of Directors of Enat Bank. The new Board of Directors will be responsible for electing a chairperson.

The 10 nominees approved are Meaza Ashenafi, Nigist Haile, Aster Solomon, Dr. Assefa Bekele, Nestanet Mengistu, Nigatu Tesfaye, Mekete Shiefraw, Dr. Kassahun Aberu, Chanyalew Yilma and Ambassdor Konjit Sine Giorgis.

The central bank failed to approve only one of the original nominees, Tsegaye Tetemke, because his position as president of Zemen Bank.

Enat Bank has submitted another female presidential nominee for consideration by the National Bank of Ethiopia according to sources.

The central bank was in the process of evaluating the second nominee presented by Enat Bank, Brutawit Dawit, and had not passed a decision when the board of Enat filed the name of another nominee.

The National Bank declined to disclose the identity of the new nominee having been contacted by Enat bank informally according to Solomon Desta, Head of Banking Supervision with the central bank. 

Enat Bank SC, Ethiopia expects to launch operations in October. The bank has already rented office space on the Bambis Road in Addis Ababa and is undertaking infrastructural work to facilitate its formal launch in October according to Fasika Kebede, President of the Bank.

The bank plans on focusing on establishing branches across Addis Ababa, with a view of solidifying its position in the sector, in the 2012-13 fiscal year explained Fasika.

The bank will open regional branches in the next fiscal year as per its program she added.

Enat Bank, Ethiopia has submitted its nomination of Brutawit Dawit to become its founding president to the National Bank.

The bank made its second nomination for president after first choice Birtukan Gebregzi was rejected by banking industry regulators with the central bank for lack of experience in credit management.

Brutawit was the president of Wegagen Bank from May 1997 to December 2004 before serving as president of Zemen Bank. She also served as the president of the Ethiopian Professional and Business Women’s Association.

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.