EFAfrica Group appoints Tanzanian Nicomed Bohay as its Group CEO

ARUSHA: A Tanzanian development finance expert, Nicomed Bohay, has been appointed Group Chief Executive Officer (Group CEO) of EFAfrica Group Ltd.

He becomes one of a few Tanzanians to lead a pan-African financial institution operating across multiple African countries.

The appointment is being hailed as a significant milestone for Tanzania’s growing contribution to African leadership in development finance and private sector investment.

Headquartered in Ebene, Mauritius, EFAfrica Group operates in Tanzania, Kenya and Zambia, providing equipment leasing solutions for agriculture, transport, construction, manufacturing and other productive sectors. As Group CEO, Bohay will oversee the company’s regional operations while driving its long-term expansion strategy across Africa.

Bohay brings nearly 30 years of experience in banking, agricultural finance and enterprise development. Throughout his career, he has focused on increasing access to productive assets as a practical way of empowering farmers, entrepreneurs and businesses to grow and create employment.

Before joining EFAfrica, he served as Managing Director of PASS Trust Tanzania, where he led innovative agribusiness financing programmes and helped establish the Agribusiness Innovation Centre to support young entrepreneurs entering commercial agriculture. He also played a key role in the establishment of PASS Leasing Company, a specialist agricultural equipment leasing institution.

Earlier, Bohay headed the Agribusiness Department at CRDB Bank, contributing to the expansion of financial services across agricultural value chains and improving access to investment capital for farmers and agribusinesses throughout Tanzania.

In 2021, Bohay joined Equity for Tanzania Limited (EFTA) as Managing Director, leading the company through one of its strongest periods of growth. Under his leadership, EFTA strengthened its position as Tanzania’s leading provider of equipment leasing while maintaining prudent portfolio management, with a non-performing loan ratio of just one percent as of June 2026.

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Reflecting on his appointment, Bohay described the new responsibility as both an honour and a commitment to advancing Africa’s economic development. “I am deeply honoured by the confidence the Board has placed in me. This appointment is not simply a personal milestone; it represents our collective commitment to building African institutions that create meaningful economic opportunities for our people,” he said.

During his tenure, EFTA financed more than 4,000 agricultural equipment units across Tanzania, including tractors, power tillers, combine harvesters and irrigation systems. The investments have supported increased agricultural productivity, expanded mechanisation and improved food security, while thousands of equipment and vehicle leases have also enabled businesses in transport, manufacturing, construction and mining to expand operations and create jobs.

Bohay also championed EFTA’s Poultry Leasing Programme, an innovative financing model targeting women and youth by providing day-old chicks, poultry feed and essential production inputs through leasing. “Equipment finance is not about machines alone. It is about empowering farmers, strengthening businesses, creating jobs and transforming livelihoods through productive investment,” he noted.