Issue 88: Escalating Cyber Attacks & Addis Ababa's Rising Ambitions

Hello, 

Welcome to Shega Weekly, your source for the latest updates on Ethiopia's thriving innovation ecosystem. In this issue, we explore the concerning rise in cyberattacks targeting Ethiopia. We also bring you news about SantimPay, a local fintech company rising in the payment solutions landscape. Additionally, we highlight two significant announcements that have brought Addis Ababa into the spotlight. Stay tuned for all the details and updates in this edition.

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Ethiopian Startups to Pitch in JapanThe Japan International Cooperation Agency (JICA) and the Ministry of Innovation and Technology of Ethiopia (MinT) are announcing an upcoming Ethiopian startup pitch event, which will take place in Japan. Read more.

Ethiopia Facing Alarming Surge in Cyber Attacks, Reports Kaspersky Global ResearchAccording to the Kaspersky Global Research & Analysis Team, Ethiopia is emerging as a significant hub for cyber attackers. A recent data analysis by the global cybersecurity company revealed that in 2023, Ethiopia experienced approximately 18,000 attacks and 30,000 instances of ransomware. While some of these attacks originated from the region, others had a global source, reports Capital Newspaper Read more.

Rising Ethiopian Fintech Startup SantimPay Processes 13 Million Br DailyPayment solutions provider SantimPay Financial Technologies has revealed that its online payment gateway is processing an average of 13 million birr ($240,000) in transactions per day. Read more.

Addis Ababa to host Global Startup Awards Africa SummitAddis Ababa has been chosen as the host city for the forthcoming Global Startup Awards (GSA) Africa Summit, scheduled for October 2023. The event, organized by the Global Innovation Initiative Group (GIIG) and Entrepreneurship Development Institute (EDI), aims to bring together the African startup ecosystem and honor the outstanding accomplishments of startups, entrepreneurs, and innovators throughout the continent. Read more.

Application for Mesirat Entrepreneurship Program OpensIs your startup focused on supporting gig work? If so, Mesirat is here to back you up. Mesirat, a partnership between the Mastercard Foundation, Gebeya Inc., and its consortium partners, is inviting applications for the Mesirat Entrepreneurship Program. Read more.

Safaricom Ethiopia Secures $157.4M Investment from IFCThe International Finance Corporation (IFC), the private investment arm of the World Bank Group, has announced an equity investment of $157.4 million (8.5 billion birr) in Safaricom Ethiopia. Read More.

Ethio Telecom, Addis Ababa City Administration Kick-Start Smart City ProjectEthio Telecom has signed a strategic memorandum of understanding with the Addis Ababa City Administration to support the realization of Addis Ababa's smart city initiative by deploying a wide area network.  Read More.

Here is what we've been reading:

Apple Vision Pro: Can it really buck the trend of augmented reality flops?Fans use AI deepfakes to keep a slain Indian rapper’s voice aliveTikTok’s sister app LetsChat wants to become the WhatsApp alternative for Africans, but users aren’t convinced yetIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.