Issue 51: NBE Proposes Fintechs Pay License Fee Regularly 

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This week’s edition of Shega Weekly brings you exciting startups working in edtech and ecommerce. In addition, the newsletter highlights developments in the fintech scene as well as funding alerts.

NBE Proposes Fintechs Pay License Fee Regularly 

The draft National Payment Proclamation proposes that foreign and local fintech operators pay a license fee regularly. According to The Reporter, the amount has not been fixed yet and will be stipulated in upcoming directives. Read More.

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Meta Launches “Meta Boost”—an Economic Impact Program in Ethiopia

In collaboration with the Ministry of Labour and Skills and Summer Media, Meta has jointly launched the Meta Boost in Ethiopia.

Meta Boost is a business program that aims to offer micro, small and medium business owners an opportunity to learn more about how digital tools can be used for business growth while also making meaningful connections with potential consumers. Read More.

Nairobi-based Accelerator, The Baobab Network, Invests $50K in Ethiopian Startup Shemach

The Baobab Network, a Nairobi-based accelerator that invests in early-stage tech companies across Africa, has announced that Ethiopian startup Shemach was selected as one of the startups in its latest cohort of four investees, with Shemach securing 50,000 dollars in funding. Read More.

Jasiri: Pre-idea, Pre-revenue Talent Investor Program Comes to Ethiopia

In a step to boost its East African expansion, the Jasiri Talent Investor program has included Ethiopia in its third cohort. Aspiring entrepreneurs from Ethiopia, Rwanda, and Kenya will be selected for the fully-funded program and supported to bring their business ideas to life. Read More.

Edtech Startup Kuraz Tech Launches Platform Offering Teachers a Side Hustle 

Ethiopian edtech startup Kuraz Technologies Plc launched its online learning platform in September 2022, offering diverse courses in local languages.

Established in 2020 with the goal of providing information and communication technologies to the education sector, Kuraz releases its educational content in video formats.

Remote Work: 5 Reasons Why Startups in Addis Ababa Should Consider It

Dagamwi Demeke argues that remote work in Addis Ababa can offer many benefits for startups beginning their journey, as well as small businesses struggling to retain their employees. Read More.

Behagerlij Inspires a Generation Through Digital Art

Behagerlij is a multi-faceted design and art studio with a strong reputation for making industry-standard, visually charged story-driven Ethiopian content. Read More.

B2B Startup Taywan Eyes to Disrupt Merkato from Jijiga: Here is How

Taywan is an offline service that mimics an online one. Currently operational in Jijiga, Harar, and Dire Dawa, Taywan provides restocking for merchants, retailers, and kiosks with embedded finance. Read More. 

Diaspora-Owned IT Firm RedFox Opens First Modular Data Center in ICT Park 

RedFox Solutions Group, a Data Center as a Service (DCaaS) provider, has inaugurated its first data center in Ethiopia. Known as Redfox Modular Data Center 1 (RFETH-MDC01), the center is erected in the ICT Park. Read More.