By our staff reporter

Getahun Nana, a reputable figure in the financial industry and the founding board chairperson of the one and only mortgage bank Goh Betoch Bank (GBB), has stepped down from his position.

Getahun, the long-serving vice governor of the National Bank of Ethiopia, a regulator of the financial sector and former president of the state-owned Development Bank of Ethiopia, a policy bank, stated that he was leaving his position to devote all of his time to the recently established training and consulting business that he oversees.

Getahun told Capital, “I will keep supporting the bank in which I have a stake.”

The former board chairperson is one of the organizers and top leaders who established the bank that opened its doors in October 2021 with a significant capital investment and a large pool of shareholders.

Getahun is currently leading Capital Financial Excellence Center (CaFEC), which was founded by financial institutions and individuals in the sector.

According to information Capital obtained from the bank, Getahun has been replaced by Belachew Hurrissa, who joined the board of directors in 2020.

Belachew has extensive expertise in a variety of industries and held the position of chairman at the Cooperative Bank of Oromia. Goh is intended to help the housing industry, but it also engages in commercial banking to sustain its main business arm.

CaFEC, which is involved in sector capacity building, was founded by 10 banks, nine insurers, two networks of financial institutions, one microfinance institution, and 20 individuals with 61.6 million birr capital.

Earlier this year, GBB, the first private mortgage finance company, also assigned Girum Tsegaye, who replaced the founding CEO Mulugeta Asamre, a seasoned leader in the banking sector, who resigned from his position due to a personal issue.