Team Shega
Addis Ababa, Ethiopia
Dear readers,
Welcome to this week’s newsletter, where we keep you informed and updated on the latest innovations and breakthroughs emerging from the Ethiopian startup ecosystem.
It’s been a bustling week, with news stories breaking every day. Shega Weekly brings you the most significant developments and highlights. So let’s dive in!
Awash Bank, the largest private bank in Ethiopia, has partnered with Service Cops, a financial technology firm in Uganda, to roll out digital microloans. Read more.
Starting next year, cashless transactions will be mandatory for fuel purchases at gas stations. According to Fortune Newspaper the mandatory telebirr payment will be first introduced for residents of the capital this month, with a nationwide rollout planned for the following month.
Currently, there are 1,250 gas stations in the country serving nearly two million vehicles.
Nuha Roadside Assistance, a local automotive company, has launched a subscription-based platform that provides drivers with the ability to call mechanics in the event of a car breakdown. Read more.
The platform which aims to revolutionize event planning by simplifying the vendor booking process will allow users to hire vendors across five essential categories: venues, DJ/Band, photographer/video, caterer and equipment rental, and decor services. Read more.
While local apps like Hulugram and Meda Chat have shown the potential of super-apps by offering multiple services, Michael Tomas, an Associate Consultant at Shega Insights, believes the launch of the telebirr super-app represents a major step forward for digital adoption in Ethiopia.
He sees the app as a way to shift consumer behavior towards embracing digital platforms, which could have a significant impact on the country’s economy. Read more
Kubik, an environmental technology startup based in Kenya and Ethiopia, has been awarded Startup of the Year at the Global Startup Awards in Copenhagen, Denmark. Read more.
Ethiopian startup BTnet Technology Solutions has launched Negari a text-to-speech platform that supports the Amharic language. Read more.
The Japan International Cooperation Agency (JICA) and the Ministry of Innovation and Technology of Ethiopia (MinT) are kicking off the NINIJA acceleration program with six Ethiopian startups landing 500,000 birr in funding. Read more.
The Ethiopian House of People’s Representatives has approved the Digital Identity Proclamation marking a significant step towards modernizing the nation’s identification system. Read more.
While banking on wheels has been developing for decades worldwide, Ethiopian financial institutions are only now recognizing the need for such services. However, K-flip states the National Bank of Ethiopia is not ready to regulate these services. Read more.
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