Emebet Melese Ousted as Development Bank of Ethiopia President, Officials Confirm - Birr Metrics
Emebet Melese, PhD, has been relieved of her duties as president of the Development Bank of Ethiopia (DBE), a move confirmed by officials to Birr Metrics on Sunday.
Brook Taye, PhD, chief executive of Ethiopian Investment Holdings (EIH), authenticated the circulating letter announcing her removal but did not disclose the reasons or the effective date. No successor has been publicly announced at this time.
As a state-owned lender, the DBE plays a pivotal role in financing priority sectors such as industry and agriculture.
Emebet was appointed to the DBE presidency in October 2024. Before this role, she led Nib International Bank as chief executive and previously held senior positions at the Commercial Bank of Ethiopia.
The Development Bank of Ethiopia has not issued a comment in response to requests for information. Additional details regarding the rationale behind Emebet’s removal and the process for appointing a permanent replacement remain unavailable.
[This is a developing story.]
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