Ethiopia Grants First Ever Foreign Lease Finance Company

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Addis Ababa ENA August 9/2019 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.

Ethio Lease, a unit of New York-based Africa Asset Finance Company Inc., was licensed with the initial capital of 400 million birr would purchase equipment from agricultural machinery to medical equipments and drilling rigs, and receive payment in local currency Birr, it was indicated.

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