Oromia Bank close to certification - Capital Ethiopia - Sept 16, 2008

Oromia International Bank (OIB), the country's youngest private bank is a few steps away from finalizing the process with the National Bank of Ethiopia (NBE) to open the first branches of the Bank, Messele Seyoum, Business Development and Planning Department manager of OIB disclosed to Capital.

Currently, the shareholders of OIB have reached 5,233, which is the largest number of shareholders among private banks in the country. Ali Hussen (Alfoze) is leading the main share amount and Yemiru Nega (YENCOMAD), Duguma Hunde (DH Geda), Bedada Challa (Dire Electronics), Getu Gelete (Getas plc), Mekia Mamio, Kebir Hussen (Arise Agriculture Mechanization) Sabir Argeno (Alsam Plc), Alemayehu Ketema, Kenenisa Bekele, Sileshe Sihin and Derartu Tulu are other major shareholders of the Bank.

NBE has approved the 12 board members of the bank six months ago. These are Abera Tola Geda (Oxfam USA country director) as OIB's board chairman; Bulbula Tule (board chair of Hawas Agri Business) as Vice Chair, and Dr. Likisa Dinsa (Dandi Boro University College), Prof Endashaw Bekele (Addis Ababa University), Dr Brihanu Adinew (senior researcher in Ethiopian Economic Association), Raya Abagodu (former head of Oromia Investment Commission), Ali Hussen (Alfoze), Abera Bekele (Horeta Engineering), Dr Girma Mente, Asefa Kumssa, Bifa Bedada, and Almaw Gari as board members of the bank. Read More.