Issue 118: Inherited Debt & Surging Interoperable P2P Transactions

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Explore the latest developments in Ethiopia's Innovation Ecosystem with our weekly roundupIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Ministry of Innovation Pursues Cancellation of 500 Million Birr DebtThe Ministry of Innovation & Technology has submitted a request to cancel the 500-million-birr debt that was incurred during the merger of the previous Ministry of Communication and Information and the Ministry of Science and Technology, leading to the establishment of the Ministry of Innovation & Technology. Read more.

TECNO Mobile Ethiopia Unveils the SPARK 20 Pro+, SPARK 20 Series Limited Edition in Splashy EventLast week TECNO Mobile Ethiopia unveiled its latest SPARK 20 series model at a grand event in Addis Ababa attended by TECNO Mobile Ethiopia executives, Senior representatives of the Ethiopian Football community, and key stakeholders. As the official mobile phone sponsor of the Africa Cup of Nations 2024, TECNO also unveiled the SPARK 20 pro+ Series Limited Edition during the ongoing AFCON tournaments. 

DireTube Founder Sets Sights on Lucrative Fintech Market with FenanPay Payment GatewayBitNet Tech Solutions, a local IT firm co-founded by the founder of DireTube, an Ethiopian media and entertainment website, is gearing up to venture into the fintech sector with the launch of an online payment gateway. Read more.

EthSwitch's Half-Year Performance Yields 437 Million Birr ProfitEthSwitch has reported a pre-tax profit of 437 million birr in its half-year performance. During this period, EthSwitch recorded 44.9 million interoperable ATM transactions, totaling over 58 billion birr in value. Additionally, the company recorded 19.5 million interoperable peer-to-peer bank transactions, amounting to 121 billion birr during the same timeframe. Read more.

Navigating Blended Learning, Edtech Frontiers in EthiopiaBlended learning, an approach that integrates innovative teaching techniques with digital technology, has gained popularity in Ethiopia in the wake of the Covid-19 pandemic. Students, teachers, and innovators share their experiences with the adoption. Read more.

Ahadu Unveils TenaFirst Plus: A Digital Health Platform with Pro Bono ServicesAhadu Web, a local IT firm, has introduced TenaFirst Plus, a digital health platform featuring pro bono services. Read more.

Agency Moves to Digitise Kebele ServicesA digital Kebele app that aspires to replace manual services in the issuance, renewals and replacement of residency IDs, is set to be unveiled as the Civil Registration & Residency Service Agency (CRRSA) has onboarded the services of Israeli company PANGEA and local company Total Tech Solutions Provider (TTSP) for a six-month project. Read more.

Ethiopian Space Science Institute to Digitally Register Southwest ForestsThe Ethiopian Space Science & Geospatial Institute has initiated a project to digitally register forests in the South West Region. Read more.

UNDP Unveils Timbuktoo Fund with Ambitious Plan to Mobilize, Invest $1 Billion in African StartupsThe United Nations Development Programme (UNDP) has launched the Timbuktoo Fund, a one-billion-dollar innovation fund designed to support African startups. Read more.

Here is what we've been reading:

IMF warns AI to hit almost 40% of jobs worldwide and worsen overall inequalityExclusive: How Africa-focused VCs are turning to secondary markets for liquidity lifelines10 startups to compete for funding at Africa Tech SummitIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.