Ethio lease finances a healing touch to the health sector

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(Photo: Anteneh Aklilu)

Ethio Lease as part of its initiative to provide diagnostic equipment to the health care sector hands over the High-tech Medical equipment on a financing leasing basis.
Ethiopia’s first privately-held and foreign-owned equipment leasing company Ethio Lease handed over a state-of-the-art CT scanner with effective, safe, and high-quality imaging equipment to Alatyon Hospital which is important for medical decision-making.
During the handover ceremony, Dr. Lia Tadesse, Minister of Health of Ethiopia said, “The private sector can play a major role in improving the health sector in the country, and the government in its 10 years development plan incorporates a deep working relationship with sectors alike.”
Lack of foreign currency is one of the challenges pulling back the country in importing high-tech Medical equipment. Foreign currency, in this regard as Dr Lia said Ethio Lease is playing a big role in the solving the challenge.
Ethio Lease’s offerings help alleviate both the liquidity and foreign exchange shortages that hamper the private sector to play a significant role in the development of the country. The company is also contributing to the modernization of Ethiopia’s agricultural sector, by importing and leasing heavy-duty agricultural equipment.
Ethio Lease has signed leases for multiple units of high-tech medical imaging equipment with medical and diagnostic centers throughout the country. The equipment comes with a full-service warranty which includes spare parts and maintenance of the equipment.
“The Global COVID 19 pandemic that is rampaging countries around the world has called for a more strengthened medical sector. In countries like Ethiopia, capital and foreign exchange is a significant challenge for which Ethio Lease has brought a complete financing solution.” said Ethio Lease CEO, Girum Tsegaye adding that, this medical equipment handover of this is a demonstration of continued commitment to supporting the government and the private sector.
“Ethio Lease will continue its support of the government’s effort to further the development of the medical sector, provided that the necessary facilitation and support from the respective government agencies continue to be forthcoming.”
Ethio Lease, a subsidiary of Africa Asset Finance Company Inc. (AAFC), began operations in August 2019 after receiving a license from the National Bank of Ethiopia, the first of its kind, and continues to address the equipment shortage and foreign exchange (FX) challenges faced in Ethiopia, providing bespoke equipment financing and a wide range of leasing services for selected equipment categories, serving various sectors including agriculture, healthcare, energy, food and coffee processing, and manufacturing.
Ethio Lease buys and imports equipment, arranges regular maintenance and monitors proper use throughout the lease period. To date, the company has signed leasing agreements with more than 100 customers for more than 200 equipment units of various types, worth over ETB 900 million.