Corporate Governance

Nib International Bank is committed to maintaining and upholding good corporate governance in order to protect the interests of shareholders, customers and staff. The company is governed by twelve Board of Directors elected by the General Assembly of Shareholders, consisting of a chairman, a vice chairman and ten other Directors. The overall management is entrusted to the management team which comprises the President, who is appointed by the Board of Directors, three Vice-Presidents and fourteen Directors.

Ato Woldetensai W/Giorgis Chairman of Board of Directors

Born in August 1957. Ato Woldetensai holds MBA, Open University UK, on July 31, 2000 and has a BA degree in Accounting, from Addis Ababa University. He worked as Financial Analysis and interpretation of financial statements, General of Manufacturing Companies including: Klaity Food Complex Share Company,Vice Chairman and Deputy Managing Director of East African Holdings and National Cement Share Company.

Presently working as Management and Financial Consultant and Board Chairman of Nib International Bank.

Ato Alemu Denekew Vice Chairman of Board of Directors

Born in July 1942, Ato Alemu holds L.L.B Degree, from Haile Selassie I University Addis Ababa, Ethiopia. And Certificates:

From Geneva Institute of Labor Studies on the Role of Active Labor Policy and Social Development.

From the Ethiopian Management Institute on Managing for excellence; Management by Objectives; Human Resource Management.

Ato Alemu has extensive work experience that started back in 1973 and he has worked as Chieg Legal Advisor on the confederation of Ethiopian Labor Union CELU); of Highway Authority of Ethiopia; of the Ministry of Transport and Communicates; of the Ministry of Finance and as the Commissioner (General Manager) of Customs and excise Authority of Ethiopia.

As of 1992, he is working as a legal consultant and attorney at law. In the past, he has rendered legal service to several foreign and local companies like Rift Resources Ltd of Canada, Color Film services of London, Kharafi, Hotels and Kharafi construction and others. His current clients include, HUYTON INC GROUP through Agrimpex co. Ltd of London, China Civil Engineering Construction Co. (CCECC), Safeway Travel & Tours Ltd, China Communication Construction Company (CCCC), BAMBI’s p.l.c, China First Highway Engineering (CFHEC). Currently he is serving as a member of Board of the Directors since 2014.

Sr. Mebrat W/Tensaie Director

Born in December 1947. Sr. Mebrat holds Masters in Public Health and Topical Medicine (MPM), from the University of Tulane, on Health System Management (HSM) and Bachelor of arts in Business Administration (BA) from Addis Ababa University.

She served as Country Director of AFNE, a Spanish NGO that was supporting foster center in Kombolcha for 70 children with hearing and speaking difficulties, and Public-private partnership in health (PPPH) consultant. She also led several business units as a researcher and Training Consultant, Organized and Coordinated the training of trainers for core groups of potential trainers selected from IGAD member states. Since 2014 election she is serving as a member of Board of Directors in Nib International Bank.

Ato Kifle Borga Director

Born in August 1952.  Ato Kifle is a graduated in Accounting from Addis Ababa University, has got an authorized accounting and consultancy from government agency. Ato Kifle Borga held various administrative positions in D.B.F. Trading p.l.c, Head Civil Service program office in  Federal Inland Revenue. He also a head in Higher Tax Payers office in Revenue & Custom Authority, Internal Audit Service. He participated in different studies of taxation in Ethiopia and abroad. Currently is on the process of establishing a consulting firm on finance and management. Ato Kifle Borga elected as a member of  Board of Directors since 2014 in Nib International Bank.

Ato Kifle Yirga Director

He is a Holder of M.S.C in Accounting and Finance from Sterling University Scotland UK, B.B.A degree in Accounting with Distinction from Addis Ababa University.

Ato Kifle Yirga began his career as a Junior auditor at price water house peat & Co. Then he moved to Ethiopia Pest Control p.l.c. As chief accountant, later on he joined Meta Abo Brewery as senior accountant and as Internal Controller where he later became Deputy General Manager. During the time of central economy, he was transferred to inspection Department of Central Planning where he worked as a senior expert and a team leader in charge of Industrial sector of the economy. From there he was transferred to Government entities; Automotive and Spare parts Enterprise as a Manager and later on as Deputy General Manager of Merchandise Wholesale and Import Trade Enterprise, former EDDC. Quitting from Government enterprises, he joined LATCO p.l.c. As Deputy General Manager; an enterprise engaged in import and distribution of Bridge stone, Goodyear and Firestone Tires. After LATCO he worked as a country Representative for Merkato Traders in China where he was handling all financial and logistical operations from Beijing.

Ato Kifle Yirga has also served as Chief Accountant and Deputy General Manager at different firms.

Currently he is General Manager of KANTH International Business p.l.c at the same time serving as a member of Board of Directors of Nib International Bank since 2011.

Ato Mulugeta Asfaw Director

Ato Mulugeta Asfaw born 1955 and He is a holder of B.Sc in Architecture and town planning at Addis Ababa University, Faculty of Technology department of Architecture and town planning and attended various management and technical courses at various institutes such as Membership of Professional Associations: Ethiopian Consulting Engineers and Architects Association (ECEAA) and AER (Association of Ethiopian Architects) He worked in different countries with different capacities such as Ethiopia, Eritrea, Rwanda, South Sudan and Burundi.

Ato Mulugeta worked as senior designer of different health centers and clinics in several regions under the Ministry of Health of Ethiopia also worked with SB Consult as Senior Architects and undertaking most of the project in the office. After that He worked with Rada Barnen Ethiopian as project manager for Urban Development programs from 1987-1989. Currently he is working as consultant in Architects and Engineers as a Manager and owner.

Ato Mulugeta Asfaw elected as a member of Board of Directors since 2015 in Nib International Bank.

Ato Mulugeta W/Michael Director

Ato  Mulugeta W/Michalel has got his  B.A In Accounting  and LLB from Addis Ababa University. He is also a Certified Accountant (ACCA).He has worked in number of companies with various positions as depicted below.
•       Authorized Accountant (Self employee)
•       Blue Nile Construction S.C Head, Finance & Administration
•      Women Development Initiative Project (World Bank Financing Project)  Head Audit Service
•       Anti Corruption Commission (Head Audit Service)
•       Batu Construction Enterprise (Head, Audit & Inspection Department)
•       Ministry of Justice ( Head Audit Services)
•       Ethiopian Water works Construction  (From Accountant to Head, General  Accounts)

Ato Seifu Awash Director

Ato Seifu Awash was born in 1950 and he has got his MA Degree in Marketing from University of England in 1986, Bachelor Business Administration in Accounting from Addis Ababa University in 1973 and Post Graduate Diploma in Computer Science from Hillock School in 2006.

He took short term training in Berlin GDR in 1976.

He began his career as a Manger of SAB Management and development Con.PLC March 2008 –to date, Director, Vision Consultancy Vision Consultancy pvt.ltd.co.  1993-Feb.2008, Finance manger, in East African Industries & Project Services Feb.1992-nov.1993, Leading Project Analyst, Industrial projects service May 1989-Feb.1992, Senior project Analyst, industrial projects service Feb.1983-May1989, Senior executive for shipping operation division Ethiopian1987-1982, Amalgamated ( Private Trading Firm), Ministry of Industry, co-coordinator  for Building materials and metal based industries1978, Loan Officer, Agricultural and Industrial Development bank1973-1976.

Ato Seifu Awash Begna was elected as a member of Board of Directors since 2018 in the Nib International Bank.

Ato Tamiru Mane Director

He was born on April 1939 E.C. He received his Diploma in Accounting and Banking from Addis Ababa University and Ethiopian Institution of Banking and Insurance. He has got his Diploma in Finance and Political Science and certified for participation in various courses at CBE.

Ato Tamiru also has extensive work experience in IBD Export department as Bank Clerk, worked in Cash department as a Senior and Junior Tell in Addis Ababa, Loan Officer and Credit Investigator, a head in audit department at CBE, Inspector in inspection department in CBE. He is also a branch manager in CBE and Dashen Banks.

His responsibilities extend to chairing the following subsidiaries and committees in Gurage Peoples Self-Help Development Organization (GPSDO), as its president for five years, He is serving in one of its sub-branch Development Organization since 1978 E.C for twenty five years as it Chair person.  He was elected as Board Member of the Organizing Committee of Zebidar Hulegeb Industry, Recently, he’s been elected as Board Member to serve in the newly organization Gurage Development Association.

Ato Abraham Mersha Director


was born on June 1969 G.C.  He received Diploma in Commerce- Banking & Finance in 1989 from Junior College of Commerce, Addis Ababa, and BA from Unity University Collage in 2007; Master of Business Administration (MBA) in 2009 from Unity University.

He took short term skill upgrading trainings and workshops and get certified in the following major subjects on:-

  • Reinsurance-Optimizing renewal negotiations conducted by London School of Insurance;
  • Reinsurance Intermediary Training- conducted by Levites International Reinsurance Broker;
  • HR for Non-HR Managers conducted by Ethiopian Institute of Financial Studies;
  • Engineering Underwriting which is conducted by Saudi Re;
  • Advanced Performance Evaluation & Monitoring conducted by Ethiopian Institution of Financial Studies;
  • Anit-Money Laundering & Countering the Financing of Terrorism (AML/CFT) by BM consulting;
  • Leadership Skills conducted by Ethiopian Institute of Financial Studies;
  • Corporate Governance conducted by Ethiopian Institute of Financial Studies and

He also has extensive experience in different training courses and attended in different workshops and certifications.

Work Experience

  • Manager, Underwriting and Branch Operations Department, Nib Insurance Company S.Co.  (April 01, 2016 to date);
  • Manager, Business Development & Planning Department, Nib Insurance Company S.Co. (Oct. 17, 2013-March 31,2016);
  • Manager, Marketing & Business Development Department, Nib Insurance Company S.Co. (March 01, 2013-Oct. 16, 2013);
  • Acting Manager, Marketing & Business Development Department, Nib Insurance Company S.Co. (Oct. 01, 2011- Feb. 29,2012);
  • Manager, Tana Branch, Nib Insurance Company S.Co. (Dec.09,2010-Sept. 30,2011);
  • Manager, Genet Branch, Nib Insurance Company S.Co. (June 01,2002-Dec. 08, 2010);
  • Acting Underwriting Division Head, Global Insurance Company (S.Co.) (Feb.01, 1999- May 31, 2002);
  • Executive Underwriting Officer, Global Company S.Co.) (Feb.01, 1999- Sept. 30, 2000);
  • Underwriting & Claims Officer, Global Company S.Co.) (Nov.17,1997- Jan. 31, 1999); and
  • General Accident and Motor Claims Clerk I & II, Ethiopian Insurance Corp. (May. 1989)

Additional Related Work Experience

  • Served as a member of the Steering Committee for NIC’s Automation project , currently under progress;
  • Served as a team member of an Ad-hoc Committee and conducted salary scale and employee’s benefit packages revision study for Nib Insurance Company in 2013/14 fiscal year.
  • Served as a member of the Strategic Plan Committee for the preparation of first five years strategic plan for Nib Insurance Company, in 2012/3.
  • Served as a Steering Committee Member representing the Fund Office for Insurance Premium Study for the first Compulsory Motor Third Party Insurance; from September to December, 2010.
  • Served as a member of the Strategic Plan Committee for the preparation of the strategic plan for Nib Insurance Company, in 2005.

Ato Teshome Shenkute Director

He was born in June 26, 1956. He holds B.A degree in Business Management, from Addis Ababa University. He took short term trainings in the following major subjects:-

  • Business & HR Processes for senior Officials ;
  • Building in Credit Analysis and development finance;
  • Building in Credit Analysis and development finance ;
  •  Introduction to Valuation –principles and practice;
  • Property management- principle and practice;
  • Fundamental of managing projects in organs
  • Credit risk management;
  • Training on financial management;
  • Domestic Banking Practice ;
  • Basic Credit Analysis & Processing; and
  • International Banking Course

Ato Teshome Shinkutie has extensive work experience that started back in 1999 and he has worked as Acting V/P Finance and Accounting of several occasions, Management Trainee, Loan and Credit Analyst, Manager Personal Planning (Act), Assistant Manager in Recovery Unit & Department, and again he has worked as Board Chairman, Specialized Financial & Promotional Institute, Director- Credit Management Department in Commercial Bank of Ethiopia.

As of 2009-2013, he has worked as a Manager of Risk & Compliance Department and Manager- Credit & Risk Management Department in Nib International Bank.

Ato Desalegn Denbu(Eng.) Director

He was born in 1968 and he has got his MSc. Degree in Road Management and Engineering, University of Birmingham, Birmingham, UK, 15 December 2006, and BSc. Degree in Civil Engineering, Addis Ababa University Faculty of Technology, Addis Ababa, Ethiopia, and 21 December 1991.

He began his career as a Practising Professional Highway Engineer, Ministry of Construction Works and Urban development (MOWUD), in Ethiopia. And be a Member of Ethiopian Association of Civil Engineers (EACE).

During his career, he is certified:-

  • In Road Financing and Road Fund Management, University of Birmingham, Birmingham, UK, 17-22 April 2005.
  • In Construction Engineering, Japan International Cooperation Agency, Osaka, Japan, 3 August – 9 November 1999.
  • In Managing and Financing Rural Transport, Transport Research Laboratory Washington DC, USA, and 1-11 December 1997.
  • In Computing, Geometric Design, Pavement Design, Economic Evaluation and Pavement Maintenance, Leeds Metropolitan University, Leeds, UK, 21 October – 15 December.
  • In Supervisory Management, Ethiopian Management Institute, Debre- Zeit Ethiopia, 21October – 15 December/1996.
  • Aided Design and drafting, and all associated computerized survey data technique and inputs like Auto Cad, MX-Road Software and other Road Design Software.

He has worked in several of Companies with various positions as Consultation Engineering, Project Director and General Manager in different construction plc.

Ato Desalegn Denbu (Eng.) elected as a member of Board of Directors since 2018 in the Nib International Bank.

Ato Thedrose Haile Secretary of Board of Directors