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2 weeks ago | 
shega.co | Daniel Metaferiya |Munir Shemsu
Ethiopian Investment Holdings (EIH) was ranked as the 34th biggest sovereign wealth fund in the world, with nearly 45 billion dollars of assets. The Sovereign Wealth Fund Institute’s (SWFI) latest ranking places EIH as the biggest sovereign wealth fund in Africa, beating out the Libyan Investment Authority for the top spot on the continent.
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2 weeks ago | 
shega.co | Munir Shemsu
Artificial Intelligence (AI) is making headways across the world. Specialized progress by companies can become factors that wipe or add billions of dollars from companies listed on international exchanges. Although sectors such as health, finance, and agriculture are now intensively making use of AI, the education sector is starting to catch on to the trend.
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3 weeks ago | 
shega.co | Munir Shemsu |Daniel Metaferiya |Etenat Awol
One of United Kingdom’s biggest car rental companies has partnered with an Ethiopian company to launch an electric, hybrid, and low-CO2-emission vehicle rental business. Green Motion International which operates in nearly 80 countries worldwide signed a franchise agreement with Excellence Car Rental Services Ethiopia this week, eyeing foreign visitors.
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3 weeks ago | 
shega.co | Etenat Awol |Daniel Metaferiya |Munir Shemsu
Ethiopian Investment Holdings (EIH) has terminated its Memorandum of Understanding (MoU) with Ababa-based electric vehicle (EV) startup Dodai Inc. five months after it was signed. The Ethiopian government's investment arm attributed the termination to a realization that a venture capital fund (VC), currently under formation by EIH, would better manage such investments.
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3 weeks ago | 
shega.co | Etenat Awol |Daniel Metaferiya |Munir Shemsu
Better Auth, a 7-month-old open-source authentication framework for TypeScript, has been selected for Y Combinator's Spring 2025 Cohort, securing $500,000 in seed funding. By joining Y Combinator, a highly influential global startup accelerator with over 4,000 companies in its portfolio valued at over $600 billion, Better Auth becomes the third Ethiopian company to enter YC, following beU Delivery and Avion.
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3 weeks ago | 
shega.co | Daniel Metaferiya |Munir Shemsu |Etenat Awol
A fintech, a commercial bank, and an insurance company have joined forces to launch an integrated digital credit and insurance service. Kacha, the first private mobile money service provider, Lucy Insurance, and Global Bank announced the partnership yesterday morning at the Skylight Hotel. The new service, dubbedAgar, which roughly translates to a supporter in Amharic, allows customers to access insurance without the need for any physical paperwork.
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3 weeks ago | 
shega.co | Munir Shemsu |Etenat Awol |capital markets. Munir
Ethiopia's Capital Market Authority has given its first investment bank licenses. CBE Capital S.C. and Wegagen Capital S.C. have been established as independent subsidiaries, spun off from their respective commercial banks. At a ceremony held at the Sheraton Addis Hotel, three other capital market service licenses were also announced. Ethio Fidelties Securities S.C. became Ethiopia’s first securities dealer in the nascent capital market.
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3 weeks ago | 
shega.co | Munir Shemsu |Etenat Awol |capital markets. Munir
A single window that integrates the functions of eight ministries for nearly 20 services is set to be unveiled within a month and a half, according to Prime Minister Abiy Ahmed (PhD). Dubbed Mesob in reference to the Ethiopian culinary tradition where several meals are featured on a single platter, the service will host licensing, permits, and other regulatory functions through an integrated access point.
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3 weeks ago | 
shega.co | Munir Shemsu |Etenat Awol
Betting on technology, community structures, and strategic partnerships, FSD Ethiopia is investing $1.24 million in grants to support five local projects. The funding, aimed at improving financial access and supporting underserved communities, brings together a diverse range of organizations, from startups to state-owned enterprises, while addressing various challenges and opportunities. The recipients include Ethiopost, Lersha, Pula, Elebat Solutions, and Birrama.
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3 weeks ago | 
shega.co | Munir Shemsu |Etenat Awol
The International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets, and Kifiya Financial Technology, signed a partnership to bring digital financial services to one million smallholder farmers. With an estimated budget of $900,000, the Digitizing Small Holder Farmers Project will be implemented until June 2027 with two primary objectives.
