Issue 131: Numbers Game

Hi,  

This week's Shega Weekly is all about big numbers. We're talking millions and billions in play when it comes to digital IDs, green investments, and network coverage. Dive in and catch up on all the detailsIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Ethio Telecom Sets 1M-per-month Fayda digital ID Registration TargetEthio Telecom is using its network of service centers and partners nationwide to drive up national digital ID registration.In a press release, the state-owned telco said it plans to issue one million digital IDs monthly and aims to onboard 32 million of the 90 million targets the country intends to meet by 2028. Read More.

Safaricom Ethiopia to Triple Network Coverage in Three YearsSafaricom Telecommunications Ethiopia is planning to triple its telecom tower network over the coming three years and is set to invest more than $1.5 billion to extend its coverage across the country.The Reporter adds that the company currently operates a network of 2,500 towers, 1,000 of which it leases from Ethio Telecom. Read More.

Kezyas Provides Step-by-Step Guides for Ethiopian BureaucracyIn Ethiopia, obtaining government services often requires patience and time. Limited access to clear and up-to-date information often forces people to rely on those who have already navigated the system. A new startup aims to bridge this gap, acting as "The Guide" to simplify such processes. Read More.

Reach for Change, IKEA Foundation to Incubate Green Entrepreneurs 

Reach for Change and the IKEA Foundation are teaming up to support young Ethiopian entrepreneurs who are building businesses that reduce waste and promote a circular economy.Allocating $2.5 million, the three-year project aims to develop an ecosystem that can support the growth of waste management and circular enterprises.  Read More.

🚀 Expand your reach with Shega! Advertise across our newsletter, website, and Telegram channel and connect directly to Ethiopia’s startup ecosystem like never before. Click Here.

Addis Ababa Close to Joining Billion-Dollar Timbuktu Startup Initiative 

Addis Ababa is inching closer to becoming the ninth hub of UNDP’s Timbuktu Initiative, a pan-African program with a one-billion-dollar innovation fund to empower startups.Announced by Ahunna Eziakonwa, Assistant Secretary-General and Director of UNDP’s Regional Bureau for Africa, the inclusion is based on meeting some requirements from UNDP. Read More.

Bankers Association to Purchase 6000 Digital ID Registration Kits 

The Ethiopian Bankers Association (EBA) has signed a contract with Lamino Engineering for the purchase of 6,000 registration kits as part of its commitment to the national Digital ID initiative.Lamino, who has previously worked with Huawei and CBE, will be paid one billion birr for the materials. Read More.

Kenyan Insurtech Pula Makes First Payout of 39 Million Br for Ethiopian Smallholder Farmers 

Kenyan Insurtech firm Pula has made its first payout of 39.4 million birr to 51,000 smallholder farmers in Ethiopia.Pula’s insurance product safeguards farmers’ investments, particularly in fertilizers. In the event of a disaster, the payout ensures they have financial resources to purchase essential agricultural supplies for the next planting season. Read More.

Thur Biotech Secures $172K USAID CATALYZE GrantThur Biotech, an Ethiopian biotechnology firm, has secured 172,000 dollars in grants from USAID CATALYZE for its innovative approach to producing biofertilizers.According to Samson Alemu, co-founder and CEO of Thur, the product serves multiple purposes, from fertilization to pest control and soil acidity reduction. Read More.

Is Japan Becoming Ethiopia’s Startup Ecosystem Unlikely Hero?An analysis from Shega looks into the growing interest of Japanese venture capital firms (VCs) in Ethiopian startups that has resulted in a capital inflow of around 10 million dollars into the country. This influx of capital from a single source outpaces the investment currently flowing into Ethiopia's startup ecosystem from other VC streams. Read More.

Here is what we've been reading:

What it takes to raise a $300 million VC fund for AfricaLayoffs and job security push Nigeria’s tech workers to traditional industriesGoogle parent announces first-ever dividend; beats on sales, profit; shares soarIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.