Issue 7 : Gebeya Closes A New Round of Funding From IFC

Good Morning, Welcome to this week's edition of Shega Weekly Newsletter ( Issue # 7) In this week's edition, we look at IFC new round of funding on Gebeya, Renew's second follow-on investment on Deliver Addis, Transport Authority's new transport and freight management system, and the government's new plant to build communication satellite. If you are here because someone forwarded you or got the link from the web, subscribe to get future newsletters. 

Gebeya Closes A New Round of Funding From IFC To Train More Software Developers in Ethiopia

Gebeya has announced that it has closed additional advisory support funding from IFC to train 300 software developers in Ethiopia.IFC has backed Gebeya in March 2019 to train and support female tech talent in Ethiopia. The second round aims to create similar opportunities for both men and female. Thy trainees will also be included in digital entrepreneurship incubator program.

In this round, "the expanded digital learning program is backed by US$485,000 in partner funding from the Republic of Korea’s Ministry of Economy and Finance through the Korea-IFC Partnership Program" This funding in addition to the previous round will put IFC investment on Gebeya to $1 million in total. 

Gebeya has graduated 73 of its second cohort digital gender Ethiopia program students last week as well.  Read More

Ethiopia Is Considering Building A Communication Satelite Via PPP 

The government of Ethiopia is aiming to build a communication satellite through public-private partnership (PPP) with USD 350 million.According to The Reporter, Ethio Telecom spends around  12 million dollars a year to lease commercial satellite. The government wants to save avoid that cost.

The government is planning to launch its remote sensing second satellite at the end of December 2020. Learn More

Are you an investor interested in meeting or learning about Ethiopian startups?Would you like to expand your pipeline with startups that match your priorities? If yes,  sign up here and express your interest as we have started matching Investors with Startups. Sign Up Here

Transport Authority Launches A Transport and Freight Management System  

The transport authority has introduced an "Integrated Transport Management System" that facilitates online registration, identification generation, license certifications, and renewals for freight transporters. It is reported that the platform also allows the authority to controls the status of freight trucks as they move through various checkpoints in the country. Read More

Deliver Addis Secures Another Follow-On Investment From Renew  

Roadrunner Technology Solutions LLC (Roadrunner), a company behind Deliver Addis, closes another follow-on investment from RENEW’s Impact Angel Network (IAN). Deliver Addis is a pioneer food delivery and e-commerce platform. 

The amount of Investment is undisclosed. This latest investment comes just after the previous follow-on investment made by Renew on Deliver Addis in May 2020. It is remembered that Renew has also funded Deliver Addis for two rounds in  2017 and 2019. RENEW invests between $200K to $3M in SME’s with social impact and so far made dozens of investments in 12 companies while exiting two investments in Ethiopia. Read More

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