Ethio Lease to mechanise the agriculture sector of Ethiopia

ETHIOPIA – The first foreign-owned leasing company, Ethio Lease, signed a Memorandum of Understanding (MoU) with the Ministry of Agriculture and the Agricultural Transformation Agency (ATA) enabling it to lease agriculture machineries to ATA sponsored farmers’ mechanisation centres.  Ethio Lease is a subsidiary of Africa Asset Finance Company Inc. (AAFC), a US-headquartered firm that owns and operates a group of companies that provide asset backed lending (ABL) and leasing services throughout Africa. Ethio Lease began operations in August 2019 after receiving a licence from the National Bank of Ethiopia. Under…

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