Ethio Lease Appoints New CEO

Feb 12 , 2022


[ssba-buttons]

The board of directors of Ethio Lease Ethiopian Capital Goods Finance S.C. has appointed Degol Gossaye as its chief executive officer (CEO). Degol has over 16 years of experience working in the banking industry and the commercial sector. He served as branch manager, credit portfolio manager, credit analysis and appraisal manager at various commercial banks. He earned his undergraduate degree in economics from Addis Abeba University and completed a postgraduate programme in business and leadership at the University of South Africa. Before joining Ethio Lease, Degol was the general manager of Sun Optical Technologies. He later took the post of vice president of business development and marketing at Ethio Lease in 2019. Ethio Lease is a subsidiary of Africa Asset Finance Company Inc., which provides leasing and asset-based lending to businesses across Africa. It is the first private and foreign-owned equipment leasing company in the country to be licensed by the National Bank of Ethiopia (NBE). Degol will succeed Fregenet Getachew, who will continue to serve Ethio Lease as a board member.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...