Issue 78: Accelerating Startups, Cashless Gas Stations & Roadside Assistance

Dear readers, 

Welcome to this week's newsletter, where we keep you informed and updated on the latest innovations and breakthroughs emerging from the Ethiopian startup ecosystem.

It's been a bustling week, with news stories breaking every day. Shega Weekly brings you the most significant developments and highlights. So let's dive in!

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

Awash Bank Beings Work to Roll out Digital LoansAwash Bank, the largest private bank in Ethiopia, has partnered with Service Cops, a financial technology firm in Uganda, to roll out digital microloans. Read more.

Trade Ministry Anticipates Mandatory Cashless Fuel Payment SystemsStarting next year, cashless transactions will be mandatory for fuel purchases at gas stations. According to Fortune Newspaper the mandatory telebirr payment will be first introduced for residents of the capital this month, with a nationwide rollout planned for the following month.Currently, there are 1,250 gas stations in the country serving nearly two million vehicles.

Nuha Launches Subscription-based Platform for On-demand Car Repairs in Addis AbabaNuha Roadside Assistance, a local automotive company, has launched a subscription-based platform that provides drivers with the ability to call mechanics in the event of a car breakdown. Read more.

F.O.X Events Unveils Vendor Booking E-commerce Platform for Event PlanningThe platform which aims to revolutionize event planning by simplifying the vendor booking process will allow users to hire vendors across five essential categories: venues, DJ/Band, photographer/video, caterer and equipment rental, and decor services. Read more.

Unlocking Ethiopia’s Digital Economy with Super-appsWhile local apps like Hulugram and Meda Chat have shown the potential of super-apps by offering multiple services, Michael Tomas, an Associate Consultant at Shega Insights, believes the launch of the telebirr super-app represents a major step forward for digital adoption in Ethiopia.He sees the app as a way to shift consumer behavior towards embracing digital platforms, which could have a significant impact on the country's economy.  Read more

Kubik Triumphs at Global Startup Awards with Innovative Plastic Waste-to-Building SolutionKubik, an environmental technology startup based in Kenya and Ethiopia, has been awarded Startup of the Year at the Global Startup Awards in Copenhagen, Denmark. Read more.

Meet Negari: A Tool That Converts Amharic Text to SpeechEthiopian startup BTnet Technology Solutions has launched Negari a text-to-speech platform that supports the Amharic language. Read more. 

Six Ethiopian Startups Receive 500K Birr Funding from NINIJA AcceleratorThe Japan International Cooperation Agency (JICA) and the Ministry of Innovation and Technology of Ethiopia (MinT) are kicking off the NINIJA acceleration program with six Ethiopian startups landing 500,000 birr in funding. Read more. 

Parliament Approves Digital ID Law The Ethiopian House of People's Representatives has approved the Digital Identity Proclamation marking a significant step towards modernizing the nation's identification system. Read more. 

Banking On Wheels In Ethiopia: Mobile Branches Parked Awaiting Regulatory Catch-UpWhile banking on wheels has been developing for decades worldwide, Ethiopian financial institutions are only now recognizing the need for such services. However, K-flip states the National Bank of Ethiopia is not ready to regulate these services. Read more.

Here is what we've been reading:

M-Pesa has been huge for Kenya’s economy — and for scammersGoogle removes hundreds of Kenya-focused loan apps from Play StoreAfrican tech startup funding dramatically declines in Q1 2023If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.