Browsing: Ethio Lease

The National Bank of Ethiopia today granted the first financial services license to a foreign-owned company, Ethio Lease, as the Ethiopian Government delivers on its promise to gradually liberalize the economy and create jobs.

Increasing foreign direct investment is a centerpiece of Prime Minister Abiy Ahmed’s reform agenda to increase private sector growth in a country where an estimated 75% of the 100+ million population are under 30 and the average age is 18.

Ethio Lease will address the equipment and foreign exchange shortages facing Ethiopia by providing local businesses with access to high-quality equipment, allowing businesses to grow their operations and thereby creating jobs and increasing productivity throughout the country. Ethio Lease is a wholly-owned subsidiary of New York-based equipment leasing firm, Africa Asset Finance Company Inc. (AAFC).

Ethio Lease’s offerings include leases for high-quality equipment, mostly in partnership with leading Original Equipment Manufacturers (OEMs).

AAFC will provide …