Ethio Lease Charters Harvesters Worth $16m

Nov 21 , 2020

Ethio Lease, the first private and foreign-owned equipment leasing company in the country, has presented 85 combine harvesters to different beneficiaries including the Ethiopian Agricultural Business Corporation. With a total investment of more than 16 million dollars, Ethio Lease purveyed the equipment during an event held in Bishoftu. It will benefit the equivalent of 180,000 smallholder farmers, reduce harvest losses to the tune of 66 million dollars annually, and create or sustain 850 direct and 34,000 indirect jobs, according to the company's vice president of marketing & sales, Degol Gossaye. The company had first leased 60 tractors to farmers in different parts of the country when it started its operations in August 2019. To date, it has signed lease agreements with more than 100 customers for over 200 units of various machinery. It is a subsidiary company of Africa Asset Finance Company Inc. (AAFC), which was launched in 2017 to address equipment leasing and asset-backed lending demands on the continent.


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...