Issue 55: EagleLion to Launch a Platform for Trading Gemstones

Hello, A new app that aims to serve as a platform to connect local gemstone companies to the international market is in the making. 

Last week also saw developments in telecom and access to finance in Ethiopia. Shega weekly revisits the week in its 55th edition

If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Issue 55: EagleLion to Launch a Platform for Trading Gemstones

EagleLion System Plc, an IT solution provider, has developed a platform to trade gemstones called Ethiopian Minerals. According to Fortune Newspaper, the app will allow direct trades and auctions for gemstones and minerals such as opal and tantalum. The Ministry of Mines hopes to see payment made digitally using payment options like PayPal, while delivery will be conducted through FedEx or DHL, opening up an international market for local products.

Fortune added that local gemstone companies complain that Ethiopia has an untapped mineral production capacity while not having a streamlined supply chain that reaches international markets.

The app is set to be availed at MinTex, a three-day mining expo at the Millennium Hall to be held next month. 

Ethio Telecom Launches Cloud-based Customer Service The state-owned Ethio Telecom has launched a cloud-based contact center service that enables companies to deploy efficient, automatic, and data-driven call centers.

The cloud-based contact center integrates voice, SMS, email, websites, social media, and chatbots, providing instant responses and reducing customer waiting time. Read more.

Innovative Finance Lab to Unlock 10M dollars Financing for Ethiopian Startups, MSMEs

Aiming to create a hub for piloting and scaling up flexible and innovative financial instruments that respond to Ethiopia’s startups and MSMEs' capital needs, the UNDP and the National Bank of Ethiopia (NBE) have launched the Innovative Finance Lab today, October 18, 2022. Read more.

Digaf Microcredit Provider Signs MOU with Ministry of Labour and Skills Digaf Microcredit Provider, a technology-driven micro-finance institute, signed a Memorandum of Understanding (MoU) with the Ethiopian Ministry of Labor and Skills (MoLS) on October 18, 2022.

The partnership allows MoLS and Digaf to facilitate access to affordable digital loan products for low- and medium-income individuals to enhance their financial well-being. Read more.

Digital Credit Is the Way Forward for Ethiopia

Driving on the experience of other countries, Michael, an Associate Consultant at Shega Insights, shares how providing credit through digital channels stands to benefit Ethiopia. Read more. 

Peter Ndegwa explains Safaricom's Ethiopia market strategy

Kenyan publication Business Daily sat down with Safaricom’s chief executive officer, Peter Ndegwa, for an update on its rollout and funding plans for the new business, as well as the strategy for launching the M-Pesa service in Ethiopia. Read more.

Here is what we've been reading:

The Nigeria Startup Bill Has been Passed into LawUgandan fintech Hipipo ranked among the world's Top 20 companies escalating innovationRegulators need to catch up with African tech, says Chipper Cash VPIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.