Issue 94: Rural Areas & Electric Vehicles

Hi, Shega Weekly presents the weekly recap of Ethiopia's startup and innovation ecosystem developments.If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Ethio Telecom Clashes with Ethiopian Communications Authority Over Funding Rural Telecom ExpansionAccording to the Reporter, Ethio Telecom and the Ethiopian Communications Authority are at odds over who should bear the cost of expanding telecom infrastructure to unprofitable rural areas.Frehiwot argues that the telecom regulator should fund universal access in uneconomic areas, citing the high costs involved. Meanwhile, the regulators maintain that telecom companies bear the responsibility due to their universal access obligations. Read more.

Maleda Innovative Financing Unlocks 1 Million Birr in Collateral-Free Loans for Startups, SMEsMaleda, a collaborative initiative between Sumuni Creative Solutions, Partnership for Change, and Amhara Bank, is aiming to support startups and small and medium-sized enterprises (SMEs) in Ethiopia by providing collateral-free loans of up to one million birr. Read more.

Technical Committee Facilitates Entry of Chinese Volkswagen EVs into Ethiopian MarketA committee is working to identify issues and requirements to allow Chinese-made Volkswagen electric vehicles (EVs) into Ethiopia's market, The Reporter stated. Read more.

Despite Liberalization, Ethio Telecom Remains “Cash Cow”Almost a decade ago, Ethiopia's former ruling party frequently referred to Ethio Telecom as a "cash cow". Today, despite significant changes in the telecom sector, one fact remains consistent: Ethio Telecom continues to be a lucrative entity. Read more.

Government to Set up Security Measures for Imported IT EquipmentLast week, the Council of Ministers approved a new draft proclamation aimed at fortifying security measures concerning imported information technology products.The proposed legislation, which awaits final approval from parliament, seeks to address potential security threats posed by computers, phones, networking equipment, and software. Read more.

Safaricom, Sumitomo, JICA, MiNT Partner to Drive Ethiopia's Digital TransformationEthiopia’s new telecom operator, Safaricom Ethiopia, global investment firm Sumitomo Corporation, and the Japan International Cooperation Agency (JICA) have joined forces to assist Ethiopia in its digitization journey. Read more. 

ZamZam Bank Collaborates with Link All Technology S.C to Launch 'Guzo le-umrah' for Digital Pilgrimage Services

ZamZam Bank has entered into a partnership with Link All Technology S.C to launch a product that facilitates seamless connectivity between travel agencies and hotel bookings for pilgrims traveling to Saudi Arabia. Named "Guzo le-umrah," the product is expected to assist over 400,000 Ethiopian customers who embark on the annual journey to Mecca in Saudi Arabia.

Imported EVs Confirmed to be VAT-Free, Authorities Assure Dealers

Ethiopian authorities have taken steps to clarify the tax status of electric vehicles (EVs) by issuing circulars stating that both imported and locally sold EVs are exempt from Value Added Tax (VAT).  Read more. 

Here is what we've been reading:

New visa programs spark brain drain fears across AfricaNigeria’s agent banking association will move ahead with price hike as fintechs consider legal actionChatGPT can get worse over time, Stanford study findsIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.