Enterprise partners (EP) organized a half-day workshop on September 5, 2019 at Magnolia Hotel for Accounting and Fiscal concerned officers of Head Office, Addis Ababa and Adama District. The main objectives of the workshop was to identify specific accounting and fiscal related challenges to DBE’s lease finance activities and encourage dialogue between members that would contribute significantly to the resolution of some of the most critical challenges in the market.
In his opening remark, Henok Tenna, Enterprise Partners TA Manager for Lease Financing, welcomed the participants and highlighted the workshop’s agenda and objectives. Following the opening speech, Stephen Strauss, EP’s International Lease Financing Adviser, presented general concepts of accounting and fiscal treatment of leasing in Ethiopia in light of International practices particularly related to IFRS 16 and IFRS 9. He further emphasized specific accounting and fiscal related issues to DBE’s leasing activities.
The workshop was very informative and was attended by 20 participants from the Development Bank of Ethiopia (DBE). Successfully, general concepts of accounting and fiscal treatment of leasing were shared with international best practices during the workshop. Participants engaged and asked questions related to accounting and fiscal treatments of leasing, as well as of DBE’s overall lease financing activity portfolio. Partners showed commitment and collaboration to facilitate activities within lease financing moving forward with recommendations and solutions presented.
As a next step, EP will continue to organize similar workshops for the rest of the district officers of select regions and ensure that all the international best practices of accounting and fiscal treatments are incorporated into DBE’s new draft procedures manual.