Issue 71: Raising the Bar

Dear readers,

Welcome to our latest newsletter, where we bring you the latest news and updates from Ethiopia’s innovative ecosystem. In this edition, we take a look at the exciting developments and advancements in Ethiopia’s telecommunications, finance, procurement, agritech, and gaming sectors.

We start with the news of Ethiopia increasing the size of its planned Ethio Telecom stake sale, followed by a report on the impact of a motorcycle ban in Addis Ababa on delivery businesses. Next, we highlight the positive impact of Telebirr in empowering over 600,000 people with micro-credit, and the adoption of a digital system for fuel regulation by the Ethiopian Petroleum and Energy Authority.

We also take a look at how innovative digital solutions are helping to expand Ethiopia’s agent networks and make financial services more accessible to underserved communities. Stay tuned!

We are also thrilled to share the news of an Ethiopian agritech startup, Hello Erf, being named a finalist in a global competition with a $1 million grand prize. Furthermore, we bring you updates on the latest developments in the gaming industry with the acquisition of Gebeta by Carry1st and the funding for Renew Capital to expand blended finance across East Africa.

Ethiopia Raises Size of Planned Ethio Telecom Stake Sale

Ethiopia has raised the size of its planned Ethio Telecom stake sale to up to 45% of the state-owned company from 40% previously. Read more.

African Union Meeting Triggers Motorcycle Ban in Addis Ababa, Disrupting Delivery Businesses

The city of Addis Ababa has imposed a ban on the use of motorcycles ahead of the 36th African Union meeting, impacting delivery businesses. Read more.

Telebirr Empowers 600,000 people with Micro-credit Totaling 1.17 billion birr

K-flip has reported that telebirr has provided micro-credit to over 600,000 people, totaling 1.17 billion birr, as of the end of 2022.

K-flip who sourced the figures from a recent report by the National Bank of Ethiopia, added that there are two licensed payment instrument issuers and eight payment system operators authorized by the central bank in Ethiopia.

Petroleum Authority Adopts Digital System for Fuel Regulation

The Ethiopian Petroleum and Energy Authority is implementing a new digital system for the regulation of the petroleum market, as stated by The Reporter. This new automation will allow key players in the industry, such as gas stations, fuel trucks, and storage depots, to share real-time data with the Authority. Read more.

Expanding Ethiopia’s Agent Networks Through Innovative Digital Solutions

A guest article by UNCDF Ethiopia focuses on breaking down barriers to financial inclusion.

With a focus on access, services, and literacy, the article highlights how transforming Ethiopia’s agent network distribution model with innovative digital solutions stands to benefit underserved communities. Read more.

Professionals Train in E-Procurement to Streamline Procurement Process, Reduce Costs

Last week, over 200 professionals received e-procurement training organized by the Public Procurement Property & Administration Agency in partnership with Transparency International.

According to Fortune, the electronic system, which aims to reduce corruption and simplify procurement practices, is estimated to cut costs by 16%.

The system mandates communication through a portal for procurement plans, tendering, bid evaluations, and award notifications.

Ethiopian AgriTech Start-Up Hello Erf Named Finalist in Global Competition with $1 Million Prize

Ethiopian agritech startup Hello Erf has been named a finalist in a global competition that recognizes innovative solutions with a $1 million Grand Prize. Read more.

Ethio Telecom Launches Ethiotel Innovation Program to Support Tech Startups

Ethio Telecom has officially launched its Ethiotel Innovation Program, aimed at empowering and supporting the nation’s technology-based startups and innovators. Read more.

Leading African Game Publisher Acquires Gebeta from Qene Games

Carry1st, the continent’s leading publisher of games and digital content, has acquired Gebeta, the product of Qene Games.  Read more.

Renew Capital Gets Funding to Expand Blended Finance Across East Africa

Renew Capital, an Africa-focused impact investment firm, has announced a seven-year partnership with funding from the Canadian government to expand its successful blended finance model across East Africa. Read more.