We brought you major updates from February, 2020. Take a look at.
Belcash Launches Hello Market
Belcash , the company behind the Hello Services including Hello Cash officially launches it’s online shopping platform called Hello Market.
Hello Market have now over 300 Suppliers that sells leather products ,coffee, apparel & accessories, shoes, jewelry, tools & hardware, housewares, furniture, sporting goods, beauty & personal care, gourmet, home made seasonings and claims to deliver deliver throughout Ethiopia within in three days.
TLcom Capital closes $71M Africa fund and Eyes Ethiopia
VC firm TLcom Capital has closed its Tide Africa Fund at $71 million with a plan to make up to 12 startup investments over the next 18 months.
Tech Crunch reports that TLcom Capital will focus primarily on startups Nigeria, Kenya, South Africa — but is also eyeing rising markets, such as Ethiopia.
Excise Tax Bill Excluded Telecommunications From The Taxable Items list
The draft excise tax bill initially levied a 5% Excise tax on the telecommunication services. It is reported that Ethio Telecom expressed it’s concern about this as well. The Teleco excise tax is now removed after the Parliamentary standing committee summoned the Ministry of Finance with the telecom executives for a discussion on February 4, 2020 according to Addis Fortune. Read more here.
Ethiopia Airlines Hits 1 Million App users and Transaction Reaches 2.7 Billion Birr
Ethiopian Airlines digital transactions is showing a staggering performance. Ethiopian Airlines launched a mobile up in 2018 and now the number of users reached 1 million. Online sales is now a 25 percent of the total sales volume.
In Additions in 2019 Ethiopian Airlines made an online sales transaction worth 12 billion birr in Ethiopia only out of which is 2.7 billion birr of sales was made through the mobile APP. Read more here.
iCog -ACC Joins The Mastercard Foundation Centre for Innovative Teaching and Learning in ICT
iCog lab’s iCog -ACC joins the Mastercard Foundation Centre for Innovative Teaching and Learning in ICT and awarded a $40K grant to expand operation. Read more here.
Amole Partners with Post Office
The mobile money and content platform Amole partners with Post office. With this partnership more than 1000 Post offices will deliver Amole services.
Hidase Telecom Set Up Microfinance Institution
“A local telecom products and services distributor has jumped into the financial industry by establishing the 39th microfinance institution in the nation, which is expected to start operations this month.”
Hidase Telecom has mobilized 12 million Br in paid-up capital. NBE minimum requirement is for Microfinance Institutions is 10 M ETB. Read more here.
French TV CANAL+ Partners with Ethiopian Content Producers
CANAL+ Partners with Ethiopian content producers as it plan to launch in Ethiopia. Canal+ group is coming to Ethiopia with investments +70 million €, availing dedicated satellite TV services & developing local content through partnership agreement with. Check the press release.
Opportunity Alert – Solve IT Accelerator
Application for Solve IT Accelerator is opened in February. Solve IT accelerator is a program run by iCog labs in partnership with JICA and support of Kudu Venture. It is known that JICA together with US Embassy are also partner for Solve IT competition. Kudu Invested 5 M ETB to the accelerator program.
The accelerator aims to scale Ethiopian startups and grow them to a viable business. “It is designed to supply entrepreneurs with extensive set of skills through intensive mentoring and trainings in order for them to define and build their business advancing rapidly into world class revolutionary companies.’
The accelerator takes a total of 4 Months. In the first month, 10 startups will enter the accelerator program and will be evaluated based on their progress. After evaluation only 5 startups will pass on to the second stage and participate in the remaining 3 months.
Selected participants will get a work space, business, management, legal and technical consultation, mentorship, and seed Funding. Work shop and master classes, networking opportunities, monthly demos and overseas trip is also part of the program.
Deadline is on March 16 : Apply here.
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