Jun 11 , 2024
Digital service providers gathered to discuss the complexities of the country's startup ecosystem last week. Weak legal frameworks and limited access to financing emerged as key challenges, despite the potential for digital businesses to thrive. The event, organised by the Addis Chamber of Commerce & Sectoral Associations in partnership with the Center for International Private Enterprise (CIPE), brought together stakeholders from both the public and private sectors. Limited access to land and financing was pointed out by Hailemelekot Asfaw, CIPE's East Africa Country Director. The long-delayed startup proclamation, which includes an innovation fund, remains a barrier for new businesses struggling to secure funding. According to Shibeshi Bettemariam, secretary general of the Addis Chamber, simplifying regulations and improving the ease of doing business for startups will make major changes.
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