26-06-2025
Ethiopia: Tesfaye succeeds Kebede at Hibret Bank
Hibret Bank, one of Ethiopia's most profitable private banks, with a national footprint across the country and close to 500 branches, has appointed Tsigereda Tesfaye as its sixth president, subject to regulatory approval.
Tesfaye will become the third woman to head an Ethiopian bank, following on from Dr Emebet Melese at the Development Bank of Ethiopia (DBE) and Melika Bedri at ZamZam Bank.
She is set to replace Melaku Kebede, who stepped down recently after nearly 20 years with Hibret Bank.
During his tenure, Kebede oversaw the launch of multi-channel banking services, introduced interest-free banking, and implemented a broadband- based Local Money Transfer system. He also guided the bank's early push into technology, championing ambitious systems upgrades to boost effifficiency.
The bank's Acting President since August 2024, Tesfaye possesses three decades of banking experience. Beginning her career at the Construction & Business Bank (CBE) in 1995, she rose to lead its general accounts division in 2003. She moved to Dashen Bank as head of credit analysis before joining Hibret Bank in 2004.
She has a BA in Business Management and an MBA in Finance, both from Addis Ababa University.
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