London, UK – 9 July 2025
Dr. Aklilu Wubet Lemma, Chief Executive Officer of Wegagen Bank, Ethiopia, has been named recipient of the African Banking Leadership Award at the 15th African Business Leadership Awards (ABLA) 2025, held during the ALM Africa Summit London.
This recognition celebrates Dr. Wubet’s visionary leadership in transforming Wegagen Bank into a dynamic, future-ready financial institution through innovation, operational excellence, and inclusive finance. Since his appointment as CEO in 2021, he has led the bank through a period of rapid growth, embracing digital transformation, expanding global partnerships, and driving sustainable financial solutions.
With over 30 years of experience in banking and finance, Dr. Wubet previously held senior roles at Bank of Abyssinia, Lion International Bank, and Nile Insurance Company, where he championed innovation and strategic growth. A graduate of Addis Ababa University with a PhD in Public Management and Policy Papers, along with degrees in Public Administration and Economics, he is widely respected for his collaborative leadership style, deep financial insight, and commitment to banking innovation.
Under his guidance, Wegagen Bank has launched a wide range of digital banking products, expanded interest-free (Sharia-compliant) services, and enhanced its role in trade service financing. Notably, the bank became the first company listed on the Ethiopian Stock Exchange (ESX) in January 2025, a landmark achievement for Ethiopia’s capital market. Dr. Wubet also spearheaded the creation of Wegagen Capital Investment Bank (WCIB), Ethiopia’s first licensed investment bank, with an initial capital of Birr 358 million.
Today, Wegagen Bank stands with a total capital of over 12 billion Birr and a workforce of more than 5,000 employees, a testament to Dr. Wubet’s strong focus on inclusive economic growth, digital accessibility, and strategic institutional development.
This award affirms Dr. Wubet’s role as a leading force in redefining Africa’s banking landscape, bridging traditional finance with bold, forward-thinking solutions that meet the demands of a fast-evolving market.
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