Issue 93- Minerals & Machine Translation

Hi, Here's the recap of the major recent developments in Ethiopia's startup and innovation ecosystem over the past week.If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Ethiopian Mineral Corporation Launches Digital Trading PlatformEthiopian Mineral Corporation has unveiled the first-ever Ethiopian Mineral Digital Trading Platform. The platform, developed by local tech firm EagleLion, brings together various institutions, including Ethiopost (the national postal service of Ethiopia), MasterCard, and Dashen Bank.Ethiopian Minerals aims to facilitate secure transactions, enforce stringent quality regulations, and safeguard the interests of consumers. Read more.

The AI Startup Outperforming Google Translate in Ethiopian languagesRest of World, a global nonprofit publication covering the impact of technology beyond the Western bubble, interviewed Asmelash Teka Hadgu co-founder and chief technology officer of Lesan, a Berlin-based startup developing machine translation products for Ethiopian languages.Founded in 2019, Lesan has launched translation tools for Amharic and Tigrinya, which it says outperforms Google Translate in terms of quality. Read more.

Ethiopian Government Exempts Ride-hailing Drivers from Paying TOT, VATOfficials at the federal government have exempted ride-hailing drivers from paying turnover tax (TOT) and value-added tax (VAT). Read more.

Chapa to Start SME lending, Eyes Djibouti, SomaliaIn a bid to address Micro, Small, and Medium Enterprises (MSMEs), Chapa Financial Technologies, one of the biggest fintech startups in Ethiopia, is vying to provide non-collateral loans. Read more.

Will Ethiopia’s Telecom Liberalization Improve Financial Inclusion?Devex, a social enterprise and media platform catering to the global development community, recently examined the status of financial inclusion in Ethiopia and explored the potential benefits that mobile money can offer. Read more.

FSD Ethiopia Drives Deliberations on InsurtechLast week, FSD Ethiopia hosted a gathering of innovators, insurance providers, and regulators from nine African countries in the capital city.The event took place at the Sheraton Hotel and aimed to shape the future of insurance and technology in Africa. Organized by FSD Ethiopia, an organization committed to building a resilient and inclusive financial sector in Ethiopia, the event was part of FSD's knowledge series and was titled "Innovation for Resilience: Shaping the Future of Insurtech in Africa."Additionally, the event highlighted the BimaLab Africa Insurtech Accelerator Program, which is currently working with 23 insurance startup ventures.

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Here is what we've been reading:

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