Ethiopia’s Only Foreign-Owned Financial Services Licensed Company Is to Close

Ethio Lease, Ethiopia’s first and only foreign-owned company to obtain a financial services license from the National Bank of Ethiopia (NBE), is set to close.

The company’s owner, African Asset Finance Company (AAFC), an investor in and provider of cost-effective access to state-of-the-art equipment in frontier and emerging markets, announced today it has instructed its subsidiary to begin the process of voluntary liquidation (winding down and dissolution).