Issue 96: Harmonizing Identities & Roads of Restriction

Hi, Here is a review of the latest developments in Ethiopia's startup and innovation ecosystem, presented by Shega Weekly.If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Banks Collaborate to Link Multiple Accounts Under a Single Digital IDIn a collaborative effort, commercial banks in Ethiopia have partnered with the National ID Project Office to streamline and unify multiple bank accounts under a single digital ID, reported Fortune. Read more.

ICJ, Kazana to Host Third Open Pitch Competition for Startups in Ethiopia with Potential $500,000 InvestmentInclusion Japan (ICJ), a Tokyo-based venture capital firm, and Kazana Group, an Ethiopian-based holding company, have announced the launch of their 3rd round of open pitch competition for startups in Ethiopia. Read more.

Safaricom Ethiopia Partners with Hibret Bank for M-Pesa RolloutSafaricom Ethiopia has forged a strategic partnership with Hibret Bank, positioning the bank's extensive network of 475 branches as super-agents for its upcoming mobile money platform, M-Pesa.According to Fortune, this collaboration empowers both M-Pesa agents and customers to access the range of services offered by Hibret Bank seamlessly. Furthermore, the deal enables the one million digital banking customers to conveniently transfer funds from their accounts to the M-Pesa wallet, facilitating bill settlements and airtime top-ups.

Addis Ababa Enforces Temporary Motorcycle Ban, Once AgainLast week, the Addis Ababa City Transport Bureau issued a temporary ban on motorcycle usage within the city limits, lasting for six consecutive days. The restriction is set to take effect until Wednesday, August 9th, and represents a recurring policy by the city's authorities. A previous ban occurred during the 36th African Union summit in February, lasting for 12 days. The Bureau has not provided specific reasons for the recent ban.

Regus, Global Workspace Provider, Establishes Presence in Addis AbabaRegus, a global provider of workspace solutions, has inaugurated its latest co-working facility in Addis Ababa, tailored to cater to the needs of entrepreneurs and businesses alike.Alongside its modern workspace offerings, Regus extends professional administrative support services encompassing mail handling and call answering. Read more.

Applications for Visa Everywhere Initiative Ethiopia Competition for Fintechs Opens with $25,000 Grand Prize

Applications are now open for the 2023 Ethiopian edition of the Visa Everywhere Initiative (VEI), a fintech competition that sees startups pitch their innovative solutions to solve tomorrow’s payment and commerce challenges. Read more. 

Here is what we've been reading:

A Ponzi scheme targets desperate workers amid Zimbabwe’s employment crisisHow e-commerce and MEs are transforming Africa’s fashion industriesWorldcoin suspended in Kenya as thousands queue for free moneyIf you are here because someone forwarded you this email, you can subscribe here to get future newsletters.