A 2020 report by the then Ethiopian Job Creation states that 1.5 million micro, small, and medium enterprises (MSMEs) employ 4.5 million people and generate 40.7 billion birr monthly. However, the digital management of business operations remains underdeveloped in Ethiopia, with the majority still relying on age-old paper and traditional methods.
Two brothers Salim and Ferid Mohammed who hail from Addis Ababa University and their cousin who was a computer science graduate from a Chinese University, witnessed this digital gap and founded Yene-Stock.
“We saw a widespread issue in small shops with valuable stock,” Salim, the co-founder of Yene Stock told Shega. “Missing inventory, employees pocketing profits by manipulating prices, and poor stock control are major problems. Shop owners find these challenges especially difficult to manage when they’re not physically present.”
These three fresh graduates put to use everything they know about computer programming, transitioning their bedroom into a development hub. Yene Stock, an Amharic equivalent for My-stock, an inventory management application is their brainchild.
“Though some essential equipment cost us around 10,000 birr, everything else, from concept to code, was built right here. It took us almost three months to fully develop the application.” They launched Yene Stock in January 2021, under Dunya Tech a software development company.
Yene Stock empowers small and medium enterprises (SMEs) and shop owners with robust management services. The platform allows owners to register their shops, track sales (including item, date, and quantity), monitor remaining inventory, and maintain daily reports, all in one centralized location.
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They decided to prioritize and target SMEs with Yene Stock; because SMEs handle significant amounts of money, employ diverse workforces, and are among the least digitally supported players, according to Salim. “Our application is designed with user-friendliness in mind. While international inventory management platforms exist, and some Ethiopian companies use them their USD-based pricing creates a barrier for small shops. Our response is a local alternative to platforms like CNET and Peachtree, with a stronger emphasis on streamlined management rather than just reporting.”
Salim further states that the products are available on both IOS and Android as well as on a website. “Our platform is easy to use,” Salim explains “Anyone interested can download the application, fill in the necessary forms, and list their items in the designated area. For example, a spare parts shop would have the salesperson, owner, and storekeeper install the application.
Each would log in with access levels tailored to their role salesperson or storekeeper. The owner (admin) receives a special username and password from the company, granting them access to the dashboard where all store data is securely stored. For privacy, employee inputs are only visible to the owner.
Shops that use Yene Stock are required to pay a 6000-birr annual fee.
Yene Properties, another creation of Dunia Technologies, assists with property management, specifically focusing on mall rentals and building management systems. The application allows mall and building owners to register their properties, manage rental collections, and automate billing processes, traditionally handled by dedicated personnel. This empowers clients with comprehensive data on their rental properties, including utility bills like water and electricity.
Users who want to use the program must supply data about their holdings, including the number of people who are already renting and working. Clients will be required to pay twenty birr for each room or partition.
But unlike Yene Stock, Yene Properties is not doing well in the business, due to issues of accessibility and lack of awareness.
Currently, Yene Stock has amassed over 500 clients, with over 10 companies in Bahirdar contributing to its growing user base.
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