AAFC intends to use the proceeds to strengthen its equity base for funding and growing a diversified portfolio of equipment leasing contracts in Ethiopia and other African markets, with a focus on agricultural and medical equipment.

African Asset Finance Company (AAFC), a New York-based non-bank financial and equipment leasing firm, closed a $30 million redeemable preferred share offering, led by Roha. The financing was completed in two equal tranches.

With South African Airways collapsing into bankruptcy, the fight for dominance among African airlines has one clear winner – Ethiopian Airlines

To supply USD 150 million agricultural machineries. The first foreign-owned leasing company, Ethio Lease, yesterday signed 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, the first foreign-owned leasing company, today announced the signing of a Memorandum of Understanding (MOU) agreement with the Ministry of Agriculture (“MOA”) and the Agricultural Transformation Agency (“ATA”) to lease agriculture equipment to ATA sponsored farmers’ mechanization centers.

African Asset Finance Company (AAFC), a New York-based non-bank financial and equipment leasing firm, appointed Christine D. Gagnon as its chief financial officer. In this new role, she will lead AAFC’s finance, accounting and credit risk functions and report directly to the company’s Chairman and CEO Frans VanSchaik.

Ethio Lease this month became the first foreign-owned company to secure a financial services license in Ethiopia. Simplifying the country’s forbidding bureaucracy would help the country’s leasing market to reach its full potential.

The National Bank of Ethiopia (NBE) has granted a license on Thursday to Ethio Lease, making it the first foreign-owned entity to receive a financial services license in the country.

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

Ethiopia has taken the first steps towards liberalising its tightly controlled financial sector by granting a business license to a foreign-owned company for the first time.