OPEN FOR AD
OPEN FOR AD
Dashen Bank
FORTUNE+ VIDEO JOBS SPONSORED CONTENTS FORTUNE AUDIO TRADE AFRICA new

Fortune Logo



E-commerce Firm Ignites Drone Delivery

September 6 , 2020

E-commerce Firm Ignites Drone Delivery

Addis Mercato, a local e-commerce and logistics company, has launched the first urban and suburban delivery service using fully automated drones. The company partnered with India-based TechEagle to launch the logistics system. Addis Mercato, founded over a year ago, will start the drone delivery service in and around Ayat, where its warehouse is located. The delivery region will initially cover a 14Km radius, going all the way to Legetafo. The drones carry up to 4.4kg and will use a GPS tracking system to locate customer locations. The new delivery system is expected to reduce one-way delivery time from 40 minutes to eight minutes. The company will work with the Ministry of Health to create a drone delivery network for the healthcare system that will enable quick and efficient delivery of essential medical supplies to treatment centres, according to Abiy Mebaselassie, CEO of Addis Mercato.

Radar

Ministry Revokes Hundreds of Mining Concessions

The Ministry of Mines has revoked the licenses of 972 for alleged non-compliance with the terms of their exploration and production permits, and involvement in illicit trade.  Among those on the receiving end of the measure is Kefi Gold, a firm that has been conducting gold exploration in the Western Wellega Zone of the Oromia Regional State for over a decade. The 2,000hct exploration area is estimated to hold deposits of close to 50,000Kg of gold. Last week, the National Bank of Ethiopia ap...

Read more >>

Radar

World Bank, Fed Agree on $715m in Funds to Fight Food Insecurity

The World Bank Group and the Ministry of Finance have signed an agreement for 715 million dollars to go towards fighting food insecurity. Most of the financing (600 million dollars) is earmarked for the implementation of a Food Systems Resilience Programme. A third of the amount is in the form of grants, while the balance is credit. An additional 115 million dollars is pledged for improving access to financial services and bolstering economic activity in pastoralist areas. The areas target...

Read more >>

Radar

DISRUPTION HOPEFULS

Youths checkout a booth at the AddisRupt Expo 2022, which was hosted at Safari Hotel on June 25, 2022. The expo focused on technological and entrepreneurial work, showcasing over 20 startups to visitors. The promoters of the expo aimed at connecting startups with investors and was organized by firms such as LinkUp Addis, Profit Marketing and Afromile Trading...

Read more >>