Issue 54: Sports Betting Earns National Lottery 181 Million Birr

Hello, The National Lottery Administration is ripping its commissions from sports betting. Meanwhile, Ride’s CEO, Samrawit, is venturing into streaming with a new app. Here are the major developments in Ethiopia’s innovative ecosystem summarized in our 54th edition of Shega Weekly. If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Issue 54: Sports Betting Earns National Lottery 181 Million Birr

The National Lottery Administration has announced that it earned 181 million birr in the previous budget year from sports betting.According to Bisrat Radio, who talked to Tedrowos Niway, Communication Director at National Lottery, the money was earned through commissions.The Administration has the legal mandate to license and regulate sports betting firms in Ethiopia. Read More.

Incubators in Ethiopia to get Institutionalized SupportCo-funded by the European Union, Sequa, a global development organization has launched BIC (Business Incubator Community) Ethiopia.BIC aims to capacitate business incubators in supporting agri-tech and agri-business startups and MSMEs to improve market access, generate higher income, and create jobs.With a budget of 5.5 million euros, the program that will last for four years will see the improved performance of 15 incubators, provide support to 700 MSMEs and 1360 startups, and create 2500 new jobs. Read More.

Ride’s CEO, Samrawit, Ventures into Streaming with SewasewSamrawit Fikru, the founder and CEO of RIDE, is venturing into the streaming business with Sewasew, a multimedia distribution app that brings music, podcasts, audiobooks, and books on one platform.Sewasew, which aims to ignite and reward creativity in Ethiopia, is available on iOS and Android. Developed in-house, Sewasew is owned by 2f-Capital Plc, a subsidiary of Hybrid Designs, the tech firm behind one of the biggest ride-hailing platforms in Ethiopia, RIDE. Read More.

AgriTech Startup Armada is Building a Marketplace for Farmers to Get Mechanized ServicesArmada is an agritech startup that provides diversified agricultural mechanization services, offering machinery rental, mechanization personnel training, spare parts, and maintenance services to Ethiopia’s farmers, agricultural machinery owners, and agricultural input providers.The platform, which is accessible through a mobile application, a website, a call center, and agents, connects farmers with nearby mechanized service providers such as tractors and implement owners. Read More.

Singer Yohana Launches New Social Media-based Idol Show, RadarSinger and songwriter Yohana has launched a new social media-based idol show called Radar Idol Show.The show, which was launched at the end of August 2022, is the result of a partnership between Agelgil Records and Gehad Entertainment and is powered by Habesha Breweries.Contestants take part in the Radar Idol show by simply recording videos of themselves singing and sending them to Radar’s channel on TikTok. Read More.  

Here is what we've been reading:

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