Ethio Lease supplies medical equipment Alatyon Hospital

Ethio Lease, Ethiopia’s first privately-held and foreign-owned equipment leasing company handed over a state-of-the-art CT Scanner to Alatyon Hospital in Hawassa as part of its initiative to provide diagnostic equipment to the healthcare sector.

Medical imaging is crucial at all major levels of health care. Effective, safe, and high-quality imaging equipment is important for medical decision-making. Ethio Lease has so 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.

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.

During the handover ceremony Her Excellency 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”.

Speaking on the challenges of foreign currency that is required in importing high-tech Medical equipment the Minister recognized the important role Ethio lease is Playing in the country. “I would like to take this opportunity to thank Ethio Lease for the role it’s playing in Ethiopia and for the work, it has done so far” added Dr. Lia Tadesse.

In his remarks, Ethio Lease CEO, Ato Girum Tsegaye said, “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. Today’s handover of this state-of-the-art medical imaging equipment is a demonstration of our 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.