- Getachew Waqe named as acting president of the Bank
- Yohannes Ayalew pledged to support after his resiganation
borkena
Toronto – Development Bank of Ethiopia on Friday disclosed Yohannes Ayalew has resigned as president of the Bank.
The resignation letter he tendered to the Board of Directors was accepted as of September 6 (Pagume 1, 2016 E.C). He reportedly held discussions with leaders at the head quarter and district level.
The reason for his resignation is described as “Private.”
The bank has been struggling with hundreds of billions of birr as bad loans after many investors who borrowed money from the bank failed to make payments.
Yohannes Ayalew (PhD) is credited for reversing the downward path of the bank and restoring financial sanity for the bank by implementing a reform measure since he took over leadership over four years ago. Leaders at the headquarter and district level gave testimonials about his leadership in reversing the crisis and for making the bank profitable again.
Yohannes has remarked “the change the bank witnessed at the desired level is something I am proud of in my career,” as cited in the update from the bank.
Youth training programs, making loans accessible across the country, the increase in the number of district branches, reverse of the bankruptcy and the beginning of profitability are attributed to his leadership role in the Bank as President.
Drastic reduction of “bad loans,” doubling the number of projects and creation of staff and leadership that is capable of quality service delivery are also among his achievements, according to the disclosure from the Bank.
The Board has decided Getachew Waqe to take over as acting president on a permanent basis. He has been serving as acting president for the bank. He is said to have a good leadership quality.
Yohannes is cited as saying that “he will support the work of the bank and make himself available for support whenever his expertise is needed.” His next career move is undisclosed.
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The failure of this stupid ethnicity based blind nincompoops of a government continues. Waque, Megersa, Feyesa, Ahmed, Jula..and all other incompetent Oromos hiding behind their ethnic group and forcefully taking high positions to wreck the country and its strong institutions will not go forever. All will pay for their crimes.
I would like to take a moment to wish my very dear countrymen and women wherever you are a Happy New Year and a year of peace, security and stability. I wish you all a rewarding year in 2024-2025 and beyond. Insha’Allah!!!
Stupid, incompetent, evil leaders and idiot followers whose brain is filled snout are making sure it will not be a happy new year to the larger mass. That will all change though and you will be singing to a different tune then!