Global Bank Ethiopia has appointed Sahlemichael Mekonnen as Acting Chief Executive Officer, following the removal of former CEO Tesfaye Boru by the National Bank of Ethiopia (NBE).

Mekonnen brings more than 21 years of experience in Ethiopia’s banking and financial sector, with a career spanning banking operations, credit, risk management, retail banking, digital banking and compliance.

He previously served in senior leadership roles at Global Bank Ethiopia, including Chief Credit & Banking Officer (CCBO) and Chief Risk & Banking Officer (CRBO). His earlier experience includes serving as Director of E-Banking & Operations at Addis International Bank, Director of Retail Banking at Debub Global Bank, and holding senior credit and compliance positions at Construction & Business Bank and Commercial Bank of Ethiopia.

His appointment comes after the NBE removed Tesfaye Boru from the CEO position effective July 28, 2026, and barred him from senior leadership positions at financial institutions for five years. The action followed an NBE special inspection that identified deficiencies in areas including corporate governance, lending and credit administration, human resources, foreign exchange operations and financial management.

The central bank said the findings involved breaches of NBE directives and Global Bank’s internal policies, citing previous warnings issued in 2021 and 2024.

Mekonnen now takes over the bank’s leadership as it moves to address the issues identified by the regulator and strengthen its governance and operations.