Ethio Lease Appoints New CEO

Feb 12 , 2022

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.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...