Issue 63: Ethio Telecom Launches Teledrive

Hello

Ethio Telecom has introduced its mobile phone cloud storage service; beU food delivery has expanded to Tanzania, and fintech startup ArifPay has announced its commercial launch.

Last week, Ethiopia’s innovative ecosystem saw significant breakthroughs across several fronts. Read all about it in Shega Weekly, where we recap the week.

Ethio Telecom Launches Teledrive

Ethio Telecom has launched teledrive, a service that enables users to back up their contacts, pictures, videos, SMS, and other files on cloud storage.

teledrive, which is available on Android and iOS, offers start at 30 birr per month for 25 GB of space, while an unlimited storage plan costs 300 birr per month. Read more.

Ethiopia’s Digital Economy is Blooming, but Needs Investment

A commentary article published by European Centre for Development Policy Management, a think thank, states the Ethiopian government has focused on modernizing its digital retail payment sector and is already recording some progress in this area.

But adds, if Ethiopia wants to realize its broader development vision, it will need to attract and mobilize investment in digital infrastructure, increase access to affordable finance for small and medium-sized enterprises (SMEs), and coordinate with public and private actors. Read more.

ZayRide Opens Co-working Space 

Zaytech IT Solutions, the developer of the taxi-hailing product ZayRide, has opened a co-working space for startups and entrepreneurs at the ZayRide office.

Starting from 2,000 birr per month, startups can get access to an office, a meeting hall, and a training room.

Arfipay Announces Commercial Launch, Prioritizes POS

Arifpay Financial Technologies has announced the commercial launch of its digital financial products and services. Read more.

beU Food Delivery Expands to Tanzania

beU delivery, an on-demand food delivery service in Ethiopia, is expanding its services to Dar es Salaam, Tanzania. Read more.

Ethiopian Banks be Ready for the Competition 

Michael Tomas, an Associate Consultant at Shega, argues technology is making Ethiopian banks’ business operations obsolete and opening up opportunities for challenger institutions to provide better services. Read more.

We Asked ChatGPT, an AI, to Write an Article about Fintech in Ethiopia

ChatGPT, an AI-powered chatbot, is the latest development in the world of technology that has spawned a new wave of amazement. The chatbot answers questions, writes essays, and creates computer programs using artificial intelligence. Read more.