Enabling Healthcare Practices and Hospitals to Seize Opportunities

South Africa’s first pay-per-use PET-CT in Rustenberg, South Africa JOHANNESBURG--(BUSINESS WIRE)--EASE South Africa has secured its first international lender to expand a revolutionary new model that provides clinics and hospitals with access to high-end medical equipment. EASE installs state-of-the-art PET-CT and MRI scanners, surgical robots, and other high-value machines with healthcare providers across South Africa. The approach allows hospitals and clinics to pay on a per-scan or per-event basis, aligning their costs with revenue. Standard Bank is the first international lender to fund this innovative model. The initiative is already making an impact, with installations of a surgical robot in one South African metropolitan hospital and a PET-CT scanner in another densely populated underserved region. Without the burden of heavy upfront equipment costs, a longstanding barrier for many healthcare centres in accessing the latest technology, capital is freed up for priorities such as increasing hospital beds and nursing staff. A...

Imraan Soomra, EASE CEO, speaks with Channels TV (Nigeria) about EASE’s first pay-per-use PET-CT scanner in South Africa and how it will make advanced cancer diagnostics more accessible by eliminating high upfront costs. Our innovative pay-per-use model allows healthcare providers to pay only per use, improving affordability and expanding access to life-saving technology across the region. Watch to hear more about this incredible PET-CT installation.

EASE® facility enables affordable cutting-edge medical equipment for southern Africa RUSTENBURG, SOUTH AFRICA (28 January 2025) – In a groundbreaking development for regional healthcare, the first pay-per-use PET-CT scanner in South Africa has been commissioned through an innovative Equipment-as-a-Service model introduced by EASE. The state-of-the-art technology, installed in collaboration with Nuclear Med Group, a leading provider of nuclear medicine services, brings advanced diagnostic tools to patients across South and Southern Africa. Located at the Precision Nuclear Oncology and Theranostics facility (PNOAT) in Rustenburg, North West Province, this PET-CT scanner marks the second installation of advanced medical technology in South Africa by EASE and its first PET-CT deployment in Africa. This milestone aligns with EASE’s mission to expand access to life-saving technology and improve healthcare delivery in underserved communities. PET-CT scanners combine the precision of Positron Emission Tomography (PET) and the anatomical detail of Computed Tomography (CT), enabling healthcare providers to detect diseases...

EASE® South Africa introduces Equipment-as-a-Service to fast-track innovation in medical equipment utilisation KWAZULU-NATAL, SOUTH AFRICA (August 1, 2024) — A state-of-the-art Da Vinci surgical robot installed this week at Busamed Gateway Private Hospital in Kwazulu Natal, South Africa, heralds a breakthrough for access to cutting-edge medical technology in Africa without the burden of heavy capital investments. The 40 million rand (US$2.2 million) robot which equips surgeons with superior vision, precision and ergonomic comfort to perform complex minimally invasive procedures with reduced pain, blood loss and recovery time is a first for the Kwazulu Natal region. It also marks a first for South Africa in terms of medical technology installed without any upfront payment through an innovative pay-per-use Equipment-as-a-Service model introduced by EASE®. A growing global shift towards renting equipment has driven US healthcare providers to lease 35% and Europeans 30% of their medical technology, enabling patients to benefit immediately from the latest...

EASE® Healthcare partnered with St. Dominic Catholic Hospital to bring the first MRI scanner in Ghana’s Eastern Region. St. Dominic Catholic Hospital is set to receive Ghana’s first Siemens Magnetom Free. Star MRI scanner – the latest in low-helium MRI technology in a scanner. The new MRI scanner will bring immense impact to patients in the region by reducing travel time, increasing accessibility of MRIs for diagnoses, treatments, and follow-ups. Akwatia, Ghana – EASE® Ghana, a subsidiary of EASE Holdings BV, which specialises in quality equipment-as-a-service, announced the commissioning of the first MRI scanner in Ghana's Eastern Region, at St. Dominic Catholic Hospital (SDCH). The commissioning also marks the debut of Siemens Magnetom Free.Star Magnetic Resonance Imaging (MRI) scanner technology in Ghana. The MRI scanner utilises Siemens’ latest low-helium scanner technology, enabling greater energy savings while maintaining high-quality imaging. Siemens’ innovative technology, combined with EASE®’s distinctive pay-per-scan equipment-as-a-service model, made...

ROTTERDAM, Netherlands--(BUSINESS WIRE)--African Asset Finance Company (AAFC), a provider of cost-effective access to cutting-edge equipment in emerging and frontier markets through leasing, asset finance, and Equipment-as-a-Service (EASE®), announces the appointment of Imraan Soomra as Chief Executive Officer (CEO) and Executive Board Member of EASE Holdings BV. “Since Imraan joined AAFC, he adeptly led a diverse team across several markets in Africa and implemented essential processes for scaling the business, proving he possesses the skills to take on this role. The AAFC board has full confidence Imraan can take EASE® to new heights” Soomra joined AAFC as Chief Operations Officer (COO) in January 2022. He has successfully managed the growth of the EASE® Healthcare program in Ghana, Nigeria and, more recently, Southern Africa, and laid the foundation for further expansion in other countries of both the EASE® Healthcare and similar programs for other sectors. These early successes have led AAFC to...

JOHANNESBURG--(BUSINESS WIRE)--African Asset Finance Company (AAFC) today announced the expansion of its groundbreaking EASE® (Equipment as a Service) Healthcare program in Southern Africa and opened a subsidiary in Johannesburg, EASE® South Africa (Pty) Limited. The Southern Africa regional expansion marks an important step in EASE®’s geographic footprint, which launched last year in Ghana and Nigeria. “Opening EASE® South Africa is a tremendous milestone in our healthcare practice,” said Kanyinsola Oyeyinka, VP of Healthcare, demand for health services continues to increase annually. “We see great demand from rapidly growing medical facilities in Southern Africa, seeking access to state-of-the-art equipment on flexible terms that allow them to grow their portfolio of services without tapping into equity or credit.” EASE’s® Healthcare expansion to Southern Africa underscores AAFC's commitment to advancing health outcomes and overcoming critical challenges faced by healthcare systems throughout Africa. AAFC’s COO Imraan Soomra added: “The EASE® Healthcare program continues to...

Improved access to critical equipment in frontier and emerging markets in fact helps deliver dramatically more positive impact, based on the following findings: Potential to improve access to critical equipment fivefold is clear Improving equipment efficiency can also occur be increased by 300%+ Delivered productivity returns of $31.30 per $1 invested in healthcare are also possible   Read More    

NEW YORK–(BUSINESS WIRE)–African Asset Finance Company, the leading provider of cost-effective access to state-of-the-art equipment in frontier and emerging markets through Equipment-as-a-Service, today announces the appointment of Imraan Soomra as Officer of the Corporation.  Imraan has over 30 years of executive experience, bringing with him significant global business acumen and local market expertise. With previous roles ranging across the healthcare, media and industrial sectors, Imraan was most recently Chief Executive Officer of Africa’s largest fishing company, operating across South Africa, Namibia and the United States. Imraan is a chartered accountant, having started his career at Deloitte, and holds an honours degree in commerce as well as additional leadership qualifications from Harvard Business School. Since January of this year, he has been Chief Operations Officer of AAFC. Prior to joining AAFC, Imraan also served as an advisor to the Harambee Youth Accelerator project, providing strategic advice on addressing youth unemployment in...

FOCOS Orthopedic Hospital in Accra on Monday outdoored a new, top-of-the-range CT Scanner, a diagnostic medical equipment, heralding the berthing in Ghana of EASE® (Equipment-as-a-Service) healthcare, a subsidiary of the African Asset Finance Company that made the acquisition possible. With major health facilities across the country in acute need of critical medical equipment, EASE® has introduced its services to bridge the gap and break the barefaced barrier to quality healthcare in the country with a plan described by partners as unheralded. The plan is pretty simple, according to officials of AAFC/EASE® and FOCOS, and operates as a pay-per-use model where EASE® purchases the required equipment, usually capital intensive, and places it directly in the health providers’ facilities. The contractual obligations ensure that generated cashflows from equipment usage cover the payment for its use, eliminating the need for equity or bank loans. Testimony At the launch of the CT Scanner at the FOCOS Orthopedic Hospital...

A Computerised Tomography (CT) scanner has been installed at the FOCOS Orthopedic Hospital, Accra to boost healthcare delivery at the hospital and the Patang community. A CT scanner is used to produce images of the inside of the body to aid diagnosis. It is the first to be installed by Equipment- As-A-Service (EASE) Ghana Limited, a subsidiary of the African Asset Finance Company (AAFC), in West Africa in line with its quest to improve healthcare delivery in Africa. Under the five-year contract between EASE Ghana and FOCOS, the Siemens CT scanner would be operated under a pay-per-use model of about $40 per scan, thereby helping the hospital avoid a high up-front cost. At the inauguration of the scanner and launch of EASE Ghana on Monday, the Chief Executive Officer (CEO) of AAFC, Frans Van Schaik, said the EASE® Healthcare programme was to help increase access to diagnostic equipment through a...

EASE Healthcare, a full-service pay-per-scan programme for hospitals, clinics and diagnostic centres and initiated by the African Asset Finance Company (AAFC) for quality diagnostic equipment has been launched in Accra. The event which saw the installation of a CT Scanner at the FOCOS Orthopedic Hospital in Accra marked the introduction of Equipment-as-a-Service (EASE) in Ghana. EASE Ghana aims to address the pressing issue of inadequate and non-functional medical equipment, which poses a significant barrier to quality healthcare in Ghana. Through the innovative pay-per-use model, EASE purchases the necessary equipment and places it directly in health providers’ facilities. The generated cash flows from equipment usage cover the payment for its use, eliminating the need for customers to rely on equity or bank loans. At the launch, the Managing Director of EASE Ghana, Dr Kanyinsola Oyeyinka who is also the Vice President, Healthcare, AAFC, said through the pay-per-use model, customers could get...

The African Asset Finance Company (AAFC) has launched its local subsidiary in Ghana, marking the introduction of its Equipment-as-a-Service (EASE®) Healthcare in the country. The event celebrated the installation of a CT Scanner, a diagnostic medical equipment provided by EASE® Ghana at the FOCOS Orthopedic Hospital in Accra. EASE® Ghana aims to address the pressing issue of inadequate and non-functional medical equipment, which poses a significant barrier to quality healthcare in Ghana. Through the innovative pay-per-use model, EASE® purchases the necessary equipment and places it directly in health providers’ facilities. The generated cash flows from equipment usage cover the payment for its use, eliminating the need for customers to rely on equity or bank loans. This approach allows healthcare providers to record equipment costs as operating expenditures, offering sustainable and flexible alternative healthcare delivery and financing. EASE® serves qualifying healthcare providers looking to replace obsolete or non-functioning equipment or establish new facilities, enabling them to expand their...

EASE Healthcare has launched a pay-per-scan programto revolutionize Ghana’s healthcare equipment access. The initiative, supported by the African Asset Finance Company (AAFC), introduced Equipment-as-a-Service (EASE) in Accra. EASE Ghana aims to tackle the issue of inadequate and non-functional medical equipment by offering a pay-per-use model. Through partnerships with renowned manufacturers like Siemens Healthineers, GE, and Fuji, EASE provides quality equipment tailored to healthcare providers’ needs. The program will eliminate the need for upfront capital or loans, as equipment usage generates revenue to cover costs. “EASE will purchase equipment needed by our customer – a CT scanner or an MRI scanner for example – and will place it in our customer’s facility for an agreed contract period. In that time, through our pay-per-use model, the customer will use the cash flows generated by the equipment to pay for its use. “EASE does not require collateral from our customers and our model...

Equipment-as-a-Service (EASE) Ghana, a cost-effective equipment solutions provider, has launched its operations in the country by installing a computed tomography (CT) scanner for FOCOS Orthopedic Hospital at Pantang in Accra. A subsidiary of the African Asset Finance Company (AAFC), the firm uses the pay-per-use model to address equipment needs of health facilities, where the institutions pay as and when they use the equipment. Under the arrangement, FOCOS Hospital did not pay for the CT scanner but will be able to use it to diagnose patients and pay charges after each use. Apart from Ghana, the company operates its model in Nigeria and Ethiopia. EASE and its parent company, AAFC, plan to install $75 million worth of equipment in Ghana. The launch in the country was attended by many dignitaries including the Chief Executive Officer (CEO) of the Ghana Investment Promotion Authority (GIPC), Yofi Grant. The Managing Director of EASE Ghana,...

Ghana has taken the lead in becoming West Africa’s first beneficiary of the African Asset Finance Company’s (AAFC) Equipment-as-a-Service (EASE®) healthcare with its first installation at the FOCOS Orthopedic Hospital in Accra. This feat was cemented after a CT Scanner, a diagnostic medical equipment provided by EASE® Ghana, was installed at the hospital during a brief ceremony, which also announced the presence of the partnership in the country. Speaking during the ceremony, Dr. Kanyinsola Oyeyinka, Managing Director of EASE Ghana and Vice President of Healthcare, AAFC, said that the partnership with FOCOS Orthopedic Hospital, which enables quality healthcare without substantial upfront costs, is a great honour. She also explained some of the work arrangements with FOCOS and how this will benefit all parties involved. “It's really an honor and a privilege for us. We are very excited, as we said on many occasions today, that we've been able to get...

EASE Ghana, a subsidiary of African Asset Finance Company (AAFC), successfully launched yesterday at the FOCOS Orthopedic Hospital. EASE provides organizations with cost-effective access to state-of-the-art medical equipment, such as CT & MRI scanners, to meet client needs & improve access to quality healthcare. FOCOS Orthopedic Hospital, a private non-profit institution established in Ghana and the United States, is the first healthcare facility to benefit from EASE's installation. The hospital specializes in providing optimum orthopedic care and seeks to improve the quality of life for its patients. During the launch event, our CEO, Yofi Grant, highlighted the timeliness of EASE's launch in Ghana, addressing the urgent need for asset finance and top-notch healthcare across Africa. He also lauded government-led initiatives like Agenda 111 aimed at further improving healthcare nationwide. The GIPC enabled EASE's expansion into the country by demonstrating steadfast dedication to fostering foreign direct investment and providing robust support...

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EASE®’s innovative pay-per-use program will enable HTS to pay for the installation and use of a new Siemens Magnetom Free.Star Magnetic Resonance Imaging (MRI) scanner from the cashflows generated by using the equipment. By providing “equipment-as-a-service”, the EASE® Healthcare program is supporting medical organisations like HTS to deliver the highest standards of care to their patients by making access to the latest medical technology more cost-effective. Read More

AAFC launches EASE® Healthcare program in Ghana with FOCOS Orthopedic Hospital EASE® Ghana has signed its first customer in the country, introducing its “equipment-as-a-service” model to Ghana’s healthcare sector. FOCOS Orthopedic Hospital is set to receive best-in-class medical diagnostic equipment through EASE® Ghana’s unique pay-per-scan service. The hospital is one of West Africa’s leading healthcare providers and has recently undergone a period of significant growth in patient numbers. Accra, Ghana – 11 May 2023 EASE® Ghana Limited, a subsidiary of African Asset Finance Company (AAFC) that provides state-of-the-art diagnostic equipment “as-a-service” to healthcare organizations, today announces the signing of its first customer. The contract, which marks the launch of the EASE® Healthcare program in Ghana, will see the installation of a Siemens CT scanner in the Accra facility of FOCOS Orthopedic Hospital. “We are thrilled to announce this deal to bring a new, best-in-class CT scanner to one of Ghana’s...

The 2020 Nobel Peace Prize was awarded to the World Food Programme, but there is still a long way to go when it comes to sustainable food systems, says Fans VanSchaik. Read More

NEW YORK, April 21, 2020 /PRNewswire/ -- African Asset Finance Company Inc. ("AAFC"), a New York-based non-bank financial and equipment leasing firm, today announced the final close of a $30 million redeemable preferred share offering, led by Roha II LP. The financing was completed in two equal tranches. AAFC intends to use the proceeds to strengthen its equity base for funding and growing a diversified portfolio of equipment leasing contracts in Ethiopia and other African markets, with a focus on agricultural and medical equipment. "The successful completion of this financing demonstrates the strong support shown by our investors," said Frans VanSchaik, CEO of AAFC. "The proceeds enable us to continue growing our business and deploy capital in equipment leasing contracts for mission-critical use in sectors that serve fundamental human needs, and we trust the additional equity will reinforce our ability to access financing despite the challenging conditions that exist today. Notwithstanding the COVID-19...

African Asset Finance Company (AAFC), a New York-based non-bank financial and equipment leasing firm, closed a $30 million redeemable preferred share offering, led by Roha. The financing was completed in two equal tranches. AAFC intends to use the proceeds to strengthen its equity base for funding and growing a diversified portfolio of equipment leasing contracts in Ethiopia and other African markets, with a focus on agricultural and medical equipment. “The successful completion of this financing demonstrates the strong support shown by our investors,” said Frans VanSchaik, CEO of AAFC. “The proceeds enable us to continue growing our business and deploy capital in equipment leasing contracts for mission-critical use in sectors that serve fundamental human needs, and we trust the additional equity will reinforce our ability to access financing despite the challenging conditions that exist today. Notwithstanding the COVID-19 pandemic, we experienced strong new lease bookings in Q1, and we took measures...

Africa has more than one-tenth of the world’s population but only 2.5 percent of the world’s air travellers. With the global aviation industry facing instability and certain aviation markets staring at a decline, Africa should certainly be the next growth market for global aviation. Considering its fast-growing economies (albeit from a low base) as well as rising business and middle and upper-class population Africa has a compelling case. In fact, according to IATA, in 15 years, Africa will see an additional 192 million air passengers a year which in turn will lead to a total of 303 million passengers travelling into and out of Africa. The opportunities to increase connectivity within Africa are also immense. For example, the majority of travellers who travel to Kinshasa in Congo from Accra in Ghana have to rely on a connecting flight. Similarly, there are no direct flights between Abidjan in Ivory Coast and...

To supply USD 150 million agricultural machineries The first foreign-owned leasing company, Ethio Lease, yesterday signed Memorandum of Understanding (MoU) with the Ministry of Agriculture and the Agricultural Transformation Agency (ATA) enabling it to lease agriculture machineries to ATA sponsored farmers’ mechanisation centres. The MOU was signed by Sani Redi, State Minister of Agriculture, Chimdo Anchala (PhD), ATA’s Senior Director, and Girma Wake, Ethio Lease Board Chairman. Ethio Lease is a subsidiary of Africa Asset Finance Company Inc. (AAFC), a US-headquartered firm that owns and operates a group of companies that provide asset backed lending (ABL) and leasing services throughout Africa. Ethio Lease began operations in August 2019 after receiving a licence from the National Bank of Ethiopia. After signing the agreement, Sani Redi said that Ethiopia’s agriculture sector uses backward mode of production. “The utilization of modern agricultural equipment and machineries is less than ten percent. Studies indicate that...

Agreement provides agriculture equipment to farmers’ mechanization centers. Addis Ababa, Ethiopia, February 28, 2020 - Ethio Lease, the first foreign-owned leasing company, today announced the signing of a Memorandum of Understanding (MOU) agreement with the Ministry of Agriculture (“MOA”) and the Agricultural Transformation Agency (“ATA”) to lease agriculture equipment to ATA sponsored farmers’ mechanization centers. The agreement was signed by the State Minister of Agriculture, Sani Redi, ATA’s Senior Director Dr. Chimbo Anchala and Ethio Lease Board Chairman, Girma Wake, during a press conference held at the Ministry of Agriculture, in the presence of Ethio Lease CEO Girum Tsegaye, CEO of AAFC Mr. Frans VanSchaik, Ethio Lease Board Member Gabriel Negatu, among other key government officials and relevant stakeholders. Ethio Lease is a subsidiary of Africa Asset Finance Company Inc. (AAFC), a New York-based firm that owns and operates a group of companies that provide asset backed lending (ABL) and...

Ethio Lease this month became the first foreign-owned company to secure a financial services license in Ethiopia. Simplifying the country’s forbidding bureaucracy would help the country’s leasing market to reach its full potential. Ethio Lease was able to obtain the license because “we were the last man standing,” says Frans Van Schaik, chairman and CEO of parent company Africa Asset Finance. The process took almost two years, he says. “We probably have as much a first mover disadvantage, in navigating a bureaucracy that is not used to having a leasing company around as we have a first mover advantage in that there is not much choice,” Van Schaik says. The advent of foreign leasing in Ethiopia will speed up business financing, argues the Economist Intelligence Unit (EIU) in London. Yet the EIU notes that financing faces “major bureaucratic hurdles” in Ethiopia. The World Bank’s 2019 report on the ease of...

The National Bank of Ethiopia (NBE) has granted a license on Thursday to Ethio Lease, making it the first foreign-owned entity to receive a financial services license in the country. Ethio Lease, a unit of New York-based Africa Asset Finance Company Inc., was licensed with the initial capital of 400 million birr would purchase equipment from agricultural machinery to medical equipments and drilling rigs, and receive payment in local currency Birr, it was indicated. Read More

The National Bank of Ethiopia granted the first financial services license to a foreign-owned company, Ethio Lease, a capital lease provider, as the Ethiopian Government delivers on its promise to gradually liberalize the economy and create jobs. Increasing foreign direct investment is a centerpiece of Prime Minister Abiy Ahmed’s reform agenda to increase private sector growth in a country where an estimated 75% of the 100+ million population are under 30 and the average age is 18. Ethio Lease will address the equipment and foreign exchange shortages facing Ethiopia by providing local businesses with access to high-quality equipment, allowing businesses to grow their operations and thereby creating jobs and increasing productivity throughout the country. Ethio Lease is a wholly owned subsidiary of New York-based equipment leasing firm, Africa Asset Finance Company (AAFC). Ethio Lease’s offerings include leases for high-quality equipment, mostly in partnership with leading original equipment manufacturers (OEMs). This...

Ethiopia has taken the first steps towards liberalising its tightly controlled financial sector by granting a business license to a foreign-owned company for the first time. Read More

(In AUG 8 story corrects to read “eventually” (not “initially”), paragraph 7) NAIROBI, Aug 8 (Reuters) - Ethiopia’s central bank granted a financial services licence to a foreign-owned company for the first time on Thursday, as the government begins to open up the economy of Africa’s second most populous nation. Ethio Lease’s new licence signals Prime Minister Abiy Ahmed is moving ahead with the economic reforms he pledged when he took office last year. The company will lease equipment such as MRI scanners, tractors and drilling rigs to companies that can’t import such equipment themselves due to foreign exchange shortages. This will create jobs and increase productivity, Ethio Lease said in a statement. The company is owned by New York-based equipment leasing firm Africa Asset Finance Company (AAFC). “There is a liquidity shortage and a lot of businesses are craving equipment that they just can’t get,” said Frans Van Schaik,...

Ethiopia’s central bank granted its first financial services license to a leasing company that plans to bring into the east African country equipment worth $600 million. Read more

Girma Wake, the former CEO of Ethiopian Airlines, along with eight foreign companies and individuals is forming the sixth lease financing company in the country. Ethio Lease Ethiopian Capital Goods Finance S.C is under formation with 400 million Br in paid up capital by nine shareholders that hail from five countries including the United States, United Kingdom, Saudi Arabia, the Netherlands and Kenya. Girma, who is also board chairperson of United Insurance and sits on the board of Ethiopian Airlines, is the proposed board chairperson of the company, which has already opened an office on Cape Verde Street. Girma, 75, had served as the CEO of Ethiopian Airlines from 2004 until his retirement in 2011. He has 50 years of experience in the aviation industry and has also worked as board chairman of RwandAir, and as an advisor to the Rwandan Minister of Transport. Currently, Girma is the adviser to...