Shega Monthly Brief – February Edition

We brought you major updates from February, 2020. Take a look at.

Belcash Launches Hello Market

Belcash , the company behind the Hello Services including Hello Cash officially launches it’s online shopping platform called Hello Market.

Hello Market have now over 300 Suppliers that sells leather products ,coffee, apparel & accessories, shoes, jewelry, tools & hardware, housewares, furniture, sporting goods, beauty & personal care, gourmet, home made seasonings and claims to deliver deliver throughout Ethiopia within in three days.

TLcom Capital closes $71M Africa fund and Eyes Ethiopia

VC firm TLcom Capital has closed its Tide Africa Fund at $71 million with a plan to make up to 12 startup investments over the next 18 months.

Tech Crunch reports that TLcom Capital will focus primarily on startups Nigeria, Kenya, South Africa — but is also eyeing rising markets, such as Ethiopia.

Excise Tax Bill Excluded Telecommunications From The Taxable Items list

The draft excise tax bill initially levied a 5% Excise tax on the telecommunication services. It is reported that Ethio Telecom expressed it’s concern about this as well. The Teleco excise tax is now removed after the Parliamentary standing committee summoned the Ministry of Finance with the telecom executives for a discussion on February 4, 2020 according to Addis Fortune. Read more here.

Ethiopia Airlines Hits 1 Million App users and Transaction Reaches 2.7 Billion Birr

Ethiopian Airlines digital transactions is showing a staggering performance. Ethiopian Airlines launched a mobile up in 2018 and now the number of users reached 1 million. Online sales is now a 25 percent of the total sales volume.

In Additions in 2019 Ethiopian Airlines made an online sales transaction worth 12 billion birr in Ethiopia only out of which is 2.7 billion birr of sales was made through the mobile APP. Read more here.

iCog -ACC Joins The Mastercard Foundation Centre for Innovative Teaching and Learning in ICT

iCog lab’s iCog -ACC joins the Mastercard Foundation Centre for Innovative Teaching and Learning in ICT and awarded a $40K grant to expand operation. Read more here.

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