News

Currency Shock, Expansion Costs Push Safaricom Ethiopia Into 42 billion Birr Loss

Safaricom Ethiopia reported a staggering 42-billion-birr operating loss nearly four years after launching commercial operations, despite a 270% surge in revenue to 7.2 billion birr.

Can Hasab AI Launch with 97% Accuracy Be a Turning Point for Ethiopian Speech Technology?

With 97% accuracy in Amharic speech recognition, Hasab AI is blending open-source frameworks with proprietary models tailored to local dialects to unlock a new stage for Ethiopian speech technology.

Ethio Telecom Enters E-Commerce with Zemen Gebeya

Ethio telecom is making a push into Ethiopia’s e-commerce space with the launch of Zemen Gebeya, a full-fledged digital marketplace integrated into the telebirr SuperApp.

M-Pesa Eyes Fuel Payment Market Share in Ethiopia, Pumps into National Fuel Aggregator

M-Pesa has become the first mobile money service to integrate into the national fuel aggregator launched last month. Game on for Telebirr which has dominated digital fuel payments for two years.

Ethiopian Enterprise Development Spurs 150,000 MSME Jobs, $1.6B in Import Savings

Over 2,700 MSMEs launched in just 9 months! Ethiopia’s state-owned Enterprise Development reports helping create 150K+ jobs & saved $1.6B through import substitution.

Ethiopian Software Company Bets On Rent-to-Use SaaS Model with Monthly Subscriptions Starting at 5,000 ETB

Can you rent software in Ethiopia? Yonet Systems, a local startup believes so as it looks to introduce a SaaS model starting at just 5,000 birr/month, built for Ethiopian SMEs.

$1M Immunization Fund Opens for Innovators Tackling Zero-Dose Challenge in Ethiopia, Nigeria

Save the Children readies for second round of applications for its $1 million accelerator program supporting up to seven innovative solutions from Ethiopia and Nigeria targeting 'Zero Dose' children.

Ethiopia Set to Legalize Foreign Ownership of Real Estate, Pending Parliamentary Approval

A landmark piece of legislation that could allow foreigners to own real estate in Ethiopia has received unanimous approval from the Council of Ministers.