Aug 10 , 2019
Ethio Lease Ethiopian Capital Goods Finance S.C, the first lease finance company in the country co-owned by non-nationals, secured a license from the National Bank of Ethiopia (NBE). Established as the subsidiary of Africa Asset Finance Company Inc., Ethio Lease was officially launched on August 8, 2019, in the presence of Yinager Dessie (PhD), governor of the National Bank of Ethiopia, Ahmed Shide, the minister of Finance, and Girma Wake, board chairperson of Ethio-Lease. The company has a paid-up capital of 400 million Br and plans to provide leasing services to address equipment shortages in the health care, agriculture, food processing, energy and manufacturing sectors. “The main advantage of Ethio Lease is that it will use foreign currency to acquire equipment for companies,” said Girum Tsegaye, CEO of Ethio Lease. “The companies then pay the equivalent of the foreign currency in Br.” The company will be joining the five local capital goods finance companies including Aliya, Oromia, Addis, Debub and Kaza Capital Goods Finance Business. One company, First Capital Goods, is also under formation.
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