18 September 2018

Ethiopia: Ex-CBE Executive Takes Helm At Bunna Bank

Regulators at the National Bank of Ethiopia (NBE) have approved the appointment of Mulugeta Alemayehu, former vice president of the state owned Commercial Bank of Ethiopia (CBE) as the new President of Bunna Bank, as of September 12, 2018.

He is the fourth president of Bunna since its inception in 2008, following in the footsteps of Tadesse Chinkel, Eshetu Fantaye and Negede Abebe.

Mulugeta replaced Tadesse, who had been running Bunna as president since 2017. Bunna will retain Tadesse as an advisor to the new President.

Mulugeta has a Master's of Business Administration and 19 years of experience in the banking industry. He earned his first degree in accounting and finance. Mulugeta was a Chief of Businesses at CBE before he moved to Bunna. He also used to work as the Chief Risk & Compliance Management Officer at the giant state bank.

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