About Us
After a year of market research and almost two years of discussions with the Regulator, Ethio Lease received a license from the National Bank of Ethiopia to operate a leasing company in July of 2019, becoming the first foreign-owned entity to be granted a financial services license in the country.
Ethio Lease is a subsidiary company of African Asset Finance Company (AAFC), which was launched in 2017 to address Africa’s underserved market for equipment leasing and asset-backed lending, with Ethiopia as its first market. Headquartered in New York, and with offices in Africa, the Middle East and Europe, AAFC is rapidly expanding its offerings to several other markets across the African continent.
About AAFC
African Asset Finance Company (AAFC) provides equipment leasing and asset-backed lending in Africa through AAFC group companies and partnerships. AAFC is a privately owned US corporation, with its main office located in New York.
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Leadership
Ethio Lease is led by (Acting) CEO Fregenet Getachew Desta and COO Tommy Graham. Fregenet brings 20 years’ experience having worked in East Africa & the UK. Tommy has a lifelong career in equipment leasing, most recently as Managing Director of Loxam’s leasing businesses in Saudi Arabia and Bahrain.
Our Team
Tommy Graham
Tommy serves as COO of Ethio Lease and is based in Addis Ababa. He joined AAFC in April 2019 as a senior advisor.
Tommy has an impressive 40-year track record in the equipment leasing and rental industry in the UK, Middle East and South Africa. During his career he was, inter alia, Managing Director of Loxam's Rapid Access businesses in Bahrain and Saudi Arabia, Managing Director of Rapid Middle East, Managing Director of Nationwide Access, and Service Manager for Libra-Plant in South Africa.
He started his career as an electrical engineer at Babcock & Wilcox.
Fregenet Getachew Desta
Fregenet is the Acting CEO of Ethio Lease. Joined Ethio Lease as of July 2021. She brings 20 years’ experience having worked in East Africa & the UK.
She has served as Country Manager, Ethiopia and Uganda and later as Marketing Head, East Africa at the French Pharmaceutical company, SANOFI. She also served as Marketing, Sales and Communications Director at the International NGO, Population Services International (PSI) Ethiopia. Her recent role was as Country Manager at Julphar Pharmaceuticals PLC (Ethiopia), looking after the import business and the Pharmaceutical Manufacturing Factory located in Addis Ababa.
Fregenet has an MSc Molecular Life Sciences Research & BSc Medical Biochemistry.
Degol Gossaye
Degol Gossaye is the Vice President Business Development and Marketing. He joined Ethio Lease in 2019 from Essilor-Sun Optical Tech, where he was CEO.
Previously, Degol worked for 14 years at United Bank as a Credit Manager, Risk Manager, and the Branch Manager. He started his career at United as a Senior Analyst.
Degol earned an MBL and Economics Degree from UNISA and is a CFA candidate.
Menen Shewarega
Menen is the CRO of Ethio Lease. She brings more than 11 years of cumulative credit and risk management experience. She Joined Ethio Lease in August 2019.
Previously, Menen spent more than 11 years with United Bank S.C. where she rose to the position of Credit Manager. During her tenure with United Bank, she held a wide variety of banking functions, including commercial lending officer and risk & credit analysis.
Menen has a BA in Economics & an MBA in Business Administration with a Marketing specialization.
Board of Directors
Ethio Lease is overseen and supported by a board of directors, a group of renowned business leaders from around the world who bring extensive experience in Ethiopia, Africa, banking and non-banking financial services, and best-in-class management practices.
Anne Eriksson
Anne recently retired from PricewaterhouseCoopers (PWC) as the Regional Senior Partner for Eastern Africa and Senior Country Partner Kenya, a role in which she oversaw 1,500 employees in six African countries.
Brooks Washington
Brooks is founder of Roha and a partner with the firm. He serves as a board member on all of Roha’s portfolio companies and previously served as CEO (General Manager) of Juniper Glass Industries, Roha’s first large-scale industrial development.
Frans VanSchaik
Frans serves as Vice Chair of Ethio Lease and is the Chairman and CEO of African Asset Finance Company Inc. He is also a Roha partner and serves on a number of affiliated company boards.
Gabriel Negatu
Gabriel recently retired from the African Development Bank as Director General, Eastern Africa, where he directed the bank’s largest Regional Center, responsible for 13 member countries and a portfolio valued in excess of $9 billion (US).
Girma Wake
Girma serves as the chair of Ethio Lease.
He also serves on the Board of Ethiopian Airlines, as the chair of United Insurance and as an adviser to the Government of Togo.
Michael Turner
Michael is Managing Director of Actis in East Africa.
Born in Tanzania and based in Nairobi, Kenya, Michael is an experienced private equity investor and has developed a deep understanding of PE investment throughout sub- Saharan Africa. He serves on various company boards, including with two banks and the Nairobi Stock Exchange.
Mohab Mufti
Mohab is a Saudi Executive with thirty years of experience in financial services, including global markets, structured finance and direct investments. He currently leads advisory firm Decca Investments and serves on the Board of Arqaam Capital, a Dubai-based emerging markets investment bank.
Careers & Opportunities
Are you seeking an opportunity to advance your career? We are hiring experienced professionals and promising new talent for various roles.
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