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Ethiopia Grows its Economy Through U.S.-Leased Farm Equipment

  • Ethiopia
  • Agriculture

The Challenge

Ethiopia’s leaders are committed to growing the country’s economy and job market. However, many small and medium-sized Ethiopian businesses do not have sufficient access to capital, which constrains their growth.

Our Solution & Impact

EthioLease is one of numerous Ethiopian companies using Prosper Africa support to secure investment. EthioLease is Ethiopia’s first privately-held and U.S.-owned equipment leasing company for farming, construction, and manufacturing equipment. EthioLease improves access to the latest in U.S. manufacturing, agriculture, and construction equipment at affordable rental rates. By growing their business, EthioLeads is creating jobs and improving livelihoods for Ethiopians and Americans alike.

In November 2020, EthioLease presented lessees with 85 new combine harvesters valued at $16 million. The equipment is expected to generate new economic activity in Ethiopia, increase efficiency and yields for farmers, and create hundreds of thousands of jobs.

“The equipment delivered here will be of paramount importance to our farmers and generate new economic activity for Ethiopia, by increasing efficiency and yield in Ethiopia’s harvest…These combine harvesters will produce more than half a million tons of barley and wheat per annum, with an annual local market value of $225 million. That is enough to bake two billion loaves of bread.”

Girum Tsegay EthioLease CEO