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Last week was eventful, to say the least. From Spotify’s entry into the country to reports of an Ethiopian TikTok spinoff, Ethiopia’s entertainment sector is going to see new digital players.
Meanwhile, the National Lottery Administration is not happy about the rising virtual games betting scene, and the parliament has cleared the way for foreign fintechs to enter Ethiopia.
Shega Weekly brings you the latest developments in Ethiopia’s innovative ecosystem.
Lottery Administration Cracks Down on Virtual Game Betting
The National Lottery Administration announced that it has shut down 20 sports betting shops that were found running bets on unauthorized virtual games.
Citing the administration, The Reporter added that virtual games betting is not a business with its own separate legal license but rather an additional service that sports betting firms can provide, but only on sports-related games that the law allows. Read more.
Ethio Telecom Eyes South Sudan
The senior management team of Ethio Telecom, led by Frehiwot Tamiru, CEO, visited South Sudan and discussed with senior leaders how to capitalize on South Sudan’s telecom infrastructure demand and expansion that can be undertaken in cooperation. Read more.
Ethio TikTok in the Works
Two local tech firms have collaborated to build a social media platform dedicated to sharing short-form videos by Ethiopians called Ethio Tiktok. Read more.
Parliament Clears Road for Foreign Fintechs to Enter Ethiopia
Ethiopia’s parliament has approved the revised National Payment System Proclamation, paving the way for foreign investment into mobile money and other digital financial services. Read more.
Spotify Now Available in Ethiopia
Spotify, the world’s most popular audio streaming service, is now available in Ethiopia. Read more.
Ethiopia Improves Spot on Global Innovation Index
An index that ranks the global state of innovation has ranked Ethiopia as the 18th most innovative country in Africa in 2022. Read more.
Coffee Resurrect Named Runner-up at a Sustainability Award
Coffee Resurrect, an Ethiopian startup that specializes in upcycling coffee waste, has been named runner-up at the 2022 Sustainable Beauty Award Winners for “pushing the boundaries of sustainability in the beauty industry.” Read more.
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