Issue 90- Unexpected Departures & Local Wins

Hello, 

Welcome to another edition of our newsletter. In this edition, we explore unexpected departures and local victories that are shaping the business and technology landscape in the country. From Visa's initiatives supporting fintech startups and women entrepreneurs, to the plummeting demand for banned Chinese-made VWs, and the strategic partnerships driving innovation in various sectors, there's much to discover. Join us as we delve into the stories making waves in Ethiopia's innovative ecosystem..If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Safaricom Ethiopia's CEO to Depart Next MonthSafaricom Telecommunications Ethiopia Plc has announced the departure of its Chief Executive Officer, Anwar Soussa. The unexpected departure of Anwar, who played a crucial role in Safaricom Ethiopia's early operations, has come as a shock to many. As of now, the identity of Anwar's successor has not been disclosed Read more.

Demand Plummets for Banned Chinese-Made VWs in EthiopiaFollowing the Ethiopian government's recent ban on imported Chinese-made Volkswagen (VW) electric vehicles, customer demand has witnessed a drastic collapse. According to the Reporter, despite this decline, dealers are facing challenges in substantially reducing the inflated sticker prices of these vehicles, which have become increasingly difficult to sell. Read more.

Ethio Telecom Signs Strategic Partnership with Tecno Mobile to Boost Smartphone PenetrationEthio Telecom has entered into a strategic partnership agreement with Tecno Mobile, with the shared objective of enhancing smartphone penetration in the market. The partnership focuses on the local assembly and distribution of Tecno Mobile devices that cater to the demand for affordable smartphones in the country. Read more.

Ethiopian Airlines, Ethiopost Join Forces to Enhance Ethiopia’s eCommerce Ethiopian Airlines, the national flag carrier, and Ethiopost, the designated postal operator of Ethiopia, have announced the signing of a transformative memorandum of understanding (MOU). This strategic partnership aims to revolutionize Ethiopia’s eCommerce landscape, positioning the country as the gateway for e-commerce in Africa. Read more.

Visa Launches New Initiatives to Support Fintech Startups, Women Entrepreneurs in EthiopiaGlobal payments giant Visa has reinforced its commitment to expanding digital payments in Ethiopia by announcing two new initiatives to help advance fintech innovation and support women-led small and medium businesses. Read more.

Major Ethiopian Streaming Platform, Sewasew, Set to Make Waves in Rising Local Podcast SceneBetting on exclusive and niche content, Sewasew Multimedia, a streaming platform backed by Samrawit Fikru, is preparing to launch the podcast feature on its streaming app. Read more.

SantimPay, Amhara Bank Collaborate to Introduce Innovative Cash Deposit MachineSantimPay, a local fintech company, has joined forces with Amhara Bank to unveil a locally developed cash deposit machine. Traditionally, the use of ATMs has allowed customers to withdraw cash with ease, but the absence of similar deposit functionality has been a limitation in Ethiopia. Read more.

Arifpay Partners with Global Fintech to Streamline Humanitarian Assistance in EthiopiaIrisGuard, a leading provider of iris-enabled payment systems, has announced a partnership with Ethiopian fintech firm Arifpay. The collaboration aims to implement IrisGuard’s EyePay Network in Ethiopia, enabling Ethiopians to access humanitarian and social protection assistance services using iris recognition technology. Read more.

Oromia Regional Revenue Bureau Partners with Ethiotelecom to Propel Revenue Collection The Oromia Regional State Revenue Bureau has forged a strategic partnership with Ethiotelecom. Through the utilization of the Telebirr digital platform, the Bureau anticipates a significant surge in tax revenues during the next fiscal year. Read more. 

Here is what we've been reading:

How to flip Africa’s depressing trajectoryPhone thieves in Brazil have an easy target: Gig workersWhat is the next frontier in the evolution of tech media in Africa?If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.