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LEASE ETHIOPIA

Girma Wake, board chairman of Ethio Lease, Yinager Dessie, National Bank Governer, and Abebe Abebayehu, Commissioner of the Ethiopian Investment Commission, arrive at the launching of Ethio Lease at Sheraton Addis on August 8, 2019.

LEASE ETHIOPIA

Girma Wake, board chairman of Ethio Lease, Yinager Dessie, National Bank Governer, and Abebe Abebayehu, Commissioner of the Ethiopian Investment Commission, arrive at the launching of Ethio Lease at Sheraton Addis on August 8, 2019. Ethio Lease is the first foreign capital lease finance company to be licensed by the National Bank of Ethiopia (NBE). African Asset Finance Company, a New York City-based finance company, established Ethio Lease. The former CEO of Ethiopian Airlines, Girma Wake, is chairman of the board of the company that aims to provide lease financing to businesses involved in the agriculture, healthcare and manufacturing sectors.

Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...

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Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...

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Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...

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