Issue 72: Riding High, Thwarting Cybercrime & Harvesting Success

Hi,

Step right up to the latest edition of our newsletter, where we unveil the most recent happenings and advancements in Ethiopia’s innovative ecosystem. 

In this issue, we cover a range of topics, from the country’s efforts to thwart cyber attacks to the adoption of technology in the agricultural sector. 

Stay informed!

Ethiopia’s Information Network Security Agency Thwarts 2,000 Cyber Attacks, Saving 15Bn Birr

Cybercriminals have been targeting Ethiopia’s financial, security, and public institutions, according to a report by Fortune Newspaper.

The Information Network Security Agency (INSA) compiled a half-year report, which indicates that over 2,000 attempts were blocked, saving 15 billion birr from potential service disruptions and data destruction in various institutions. Read more.

Ethiopia Proposes $150 Million Entry Fee for M-Pesa, Other Foreign Mobile Money Operators

A draft directive that aims to allow foreign operators to enter Ethiopia’s mobile money market proposes a license fee of $150 million. The draft is intended to replace the 2020 directive that allowed non-financial players to enter the market, and led to the creation of Telebirr. Read more.

Nation to Get EV Charging Stations

Ethiopian Electric Power (EEP) and Cardinal Industrial Plc have agreed to establish 500 electric vehicle (EV) charging stations within one year at a cost of $15 million.

According to the Capital Newspaper, the charging stations will be connected to separate power lines to ensure a sustainable power supply for the charging stations while also providing electricity to the public. Read more.

Adoption, Access to Agricultural Financial Services in Rural Ethiopia

K-flip narrates that the Ethiopian government, for the past decades, has been committing at least 10% of the federal budget to the development of the agricultural sector for the past decade.

Although improvements in productivity are observed, there is still a long way to go and one of the reasons for this is the slow adoption of new technology, states the knowledge hub powered by Kifya Financial Technologies. Read more.

Ethiopia’s Feres Quietly Expands in East Africa, Takes on Bolt, Uber, Safe Boda

Feres, one of Ethiopia’s biggest and most successful ride-hailing companies, has quietly expanded its operations in East Africa, where it’s taking on global and continental ride-hailing giants such as Bolt, Uber, and Safe Boda. Read more.

FAO Donates 2.5m Br to Improve Ethiopian Wheat Trading System

The Ethiopian Commodity Exchange (ECX) has received a 2.5 million birr donation from the Food and Agriculture Organization (FAO) to develop their trading system, which will include wheat.

With this new system, farmers and suppliers will be able to deliver their wheat to any of the 25 branches of the ECX and benefit from a quick clearing and settlement system, access to real-time market information on wheat trade, and use the warehouse receipt financing system to obtain a short-term loan, stated Fortune.

Three Ethiopian Startups Secure Spot in DSTV’s Accelerator Program

Three Ethiopian startups, GoodayOn, Garri Logistics, and Taskmoby, have been selected for the 2022/3 MultiChoice Africa Accelerator Program which aims to support and scale established African startups. Read more.