Ethio Lease Gets New CEO

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The Board of Directors of Ethio Lease SC announced that it has appointed Degol Gossaye as CEO as of January 27, 2022. Degol joined the capital goods leasing company as Vice President of Business Development and Marketing in August 2019. His predecessor Fregenet will be appointed to the Board and will continue to assist Ethio Lease’s management as a senior advisor to the CEO.Degol has over 16 years of experience working in the banking and the commercial sector. He was previously General Manager of Sun Optical Technologies (Essilor), designing and implementing the franchise retail model which enabled the company to open many stores across Addis Ababa and numerous regional cities.

Degol earned his Bachelor of Art degree in Economics from Addis Ababa University and his Master of Business Leadership (MBL) in Business and Leadership from the University of South Africa. “Degol’s appointment comes at an important juncture. His sound knowledge and experience of the finance sector as well as the commercial sector is an excellent mix for leading an equipment leasing company,” said Frans van Schaik, CEO and Chairman of African Asset Finance Company (AAFC), the parent company of Ethio Lease.

In August 2019, AAFC’s wholly owned subsidiary Ethio Lease became the first foreign-owned company in Ethiopia to receive a financial services license from the National Bank of Ethiopia.



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