This edition of Shega Weekly is packed with updates on the latest developments in Ethiopia’s thriving startup and innovation scene. Stay informed by reading on!
Central Bank, Capital Market Authority Select Security Settlement System provider
The National Bank of Ethiopia (NBE) and Ethiopian Capital Market Authority (ECMA) have selected a firm that will provide Central Securities Depository (CSD) system that will transform securities into an electronic format, allowing financial firms to convert their shares, monitor transfers, and conduct transactions efficiently.
Brook Taye, Director General of ECMA, announced the procurement of the CSD system at a roundtable event organized by Bloomberg and ECMA for Ethiopian financial firms. Read more.
Ethio Telecom Transforms Mobile Money Platform Telebirr into Super App
Ethio Telecom has taken its mobile money platform, telebirr, to the next level by transforming it into a super app. This upgraded platform offers a variety of services accessible through a single interface, including e-commerce, entertainment, food delivery, transportation, utility bill payments, and more. Read more.
Ahadu Bank Avails Digital Document Authentication
Ahadu Bank has entered into a partnership with the Federal Documents Authentication & Verification Agency to enhance customer compliance and lending systems. As part of the integration, Ahadu Bank can now directly verify and confirm authenticated power of attorney documents issued by the Agency.
Electronic Government Procurement Status Report
According to the Public Procurement & Property Authority, the Electronic Government Procurement (eGP Ethiopia) system, which was launched to automate government procurement end-to-end, has registered 7588 suppliers, 74 procuring entities, and published 1031 tenders thus far.
Following successful pilot testing, eGP Ethiopia was launched in September 2022 by making electronic procurement compulsory for 72 agencies.
ZamZam Bank Launches Internet-free Mobile Banking App
ZamZam Bank, the pioneer in offering interest-free banking services in Ethiopia, has introduced an innovative mobile banking app, ZamZam Mobile, which operates without an internet connection. Read more.
Ride Enters Food Delivery Market, Sets Minimum Fee at 200 Birr
Ride, a top ride-hailing platform in Ethiopia, is expanding its services by entering the food delivery market. Read more.
Ethio Telecom vs. Safaricom: The Telecom Race in Figures
Last week Ethiopia’s two telecom operators revealed their progress and launched new products, providing insights into their current customer base.
According to calculations based on their latest announcements, both Safaricom and Ethio Telecom are onboarding approximately 15,000 users per day. Read more.
Ethiopia’s Push for EdTech, Hybrid Learning in a Post-pandemic World
The COVID-19 pandemic highlighted the urgent need for a robust EdTech infrastructure in Ethiopia. With traditional learning methods disrupted, parents, policymakers, teachers, and students had to adapt to hybrid learning. Although there are challenges, such as limited internet access and digital literacy, Hybrid Education holds promise for Ethiopia. Read more.
Kubik shortlisted for Global Startup of the Year Award
Kubik Inc., an environmental technology firm founded by an Ethiopian entrepreneur, has been shortlisted for the Global Startup Awards. The company, which uses plastic waste to create low-carbon, durable, and affordable buildings, made it to the global competition after being named Africa’s Startup of the Year. The grand finale is set for March 29th in Copenhagen. Vote for Kubik
Ethiopia’s Arifpay Emerges as a Frontrunner for Fintech Innovation of the Year Award
Arifpay, Ethiopia’s first Payment System Operator licensed by the National Bank of Ethiopia, has been shortlisted for the Fintech Innovation of the Year Award at the 2023 East Africa Com Awards.
The award recognizes groundbreaking products or services that provide significant new opportunities for revenue growth or customer satisfaction in their target market. The public vote will close on Friday, April 14, 2023, and the finalists will be announced on Wednesday, April 15. Vote.