The Reporter (Addis Ababa)

Ethiopia: BoA's Addisu Clinches Banking Industry Stewardship

Following Berhanu Getaneh's retirement from his position at the helm of United Bank SC, the leadership of the Ethiopian Bankers Association (EBA) was passed on to Addisu Habba president of Abyssinia Bank (BoA).

It was exactly a month ago that Berhanu announced his resignation from the presidency of the United Bank. At that time, it was also clear that EBA would have to look for a new president to replace the outgoing Berhanu. Hence, the General Assembly meeting that the association conducted last Thursday wined up electing Addisu to fill Berhanu's shoes.

The new banking industry leader worked in the sector for a total of 36 years. Before assuming the presidency at BoA, Addisu has served the Construction and Business Bank (CBB) as president for eight years. Before taking over the leadership at CBB, he also worked at different positions there including serving as vice president.

Later that night, the association threw a farewell reception for Berhanu, who finally left the association after nine years working in different positions.

On the occasion, the incoming chairman noted that in such testing times for the banking sector, it is absolutely important for sector players to stand together. "While keeping the spirit of competition, we need to be able to work together," Addis underscored. Furthermore, he also warned the bankers that once the country's accession process to the World Trade Organization (WTO) is complete, the banking sector should be ready to work together to withstand the fierce competition that might come from foreign banks.

The Ethiopian Bankers Association was founded 12 years ago with a contribution of Tilahun Abaye, former president of Commercial Bank of Ethiopia (CBE), and Leikun Berhanu, also ex-president of Awash International Bank. Before it got legal personality, Tilahun has served as coordinator of the association, while Leikun was the first president, who lead the EBA for five years.

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