African Century established African Century Leasing in 2010 as the first focused leasing company in the Zimbabwean market post the introduction of a multi-currency environment in 2009. The company was created in response to the need to recapitalise all sectors of the economy after a decade of de-industrialisation. The business has now developed to become one of the leading leasing companies in Zimbabwe providing lease finance for vehicles and machinery with clients from the private and public sector.
Since it was launched in early 2011, it has grown exponentially and now has a lease book of c $30 million with almost 1,700 leases granted since incorporation. The business has raised several third party credit lines from (amongst others) Afreximbank, FMO, the Soros Economic Development Fund and Norsad.
In 2015, African Century Leasing secured a microfinance banking licence, and in early 2016 the business opened its first retail banking branch.
For more information, please see http://www.africancentury.co.zw.