New Lease Financier to Join Business

Girma Wake, the former CEO of Ethiopian Airlines, along with eight foreign companies and individuals is forming the sixth lease financing company in the country.

Ethio Lease Ethiopian Capital Goods Finance S.C is under formation with 400 million Br in paid up capital by nine shareholders that hail from five countries including the United States, United Kingdom, Saudi Arabia, the Netherlands and Kenya.

Girma, who is also board chairperson of United Insurance and sits on the board of Ethiopian Airlines, is the proposed board chairperson of the company, which has already opened an office on Cape Verde Street.

Girma, 75, had served as the CEO of Ethiopian Airlines from 2004 until his retirement in 2011. He has 50 years of experience in the aviation industry and has also worked as board chairman of RwandAir, and as an advisor to the Rwandan Minister of Transport. Currently, Girma is the adviser to the president of Togo on aviation matters.