The National Bank of Ethiopia (NBE) has rejected Global Bank Ethiopia’s request to appoint Sahlemichael Mekonnen as its Acting Chief Executive Officer, citing regulatory non-compliance.
In an official letter addressed to Global Bank’s Board of Directors, the NBE stated that, “A review of submitted documents revealed Sahilemichael does not meet the minimum work experience requirements outlined in Article 5.1.3 (b) of NBE Directive No. SBB/89/2024.”
Global Bank requested NBE in a letter to approve Sahlemichael’s appointment to on July 24, 2026. However, “The NBE has instructed Global Bank Share Company to nominate an alternative candidate who fulfills all statutory qualifications under Banking Business Proclamation No. 1360/2017 and submit the new appointment for formal regulatory approval.”
Biniam Fikadu, Marketing and Communication Director of the Bank confirmed NBE’s rejection of Sahlemichael’s appointment.
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Global Bank Ethiopia Board of Directors had approved the appointment of Sahlemichael Mekonnen as Acting CEO or President on late July 2026.
