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Equity Firm Expands to Logistics, E-commerce

Feb 23 , 2019

RENEW Investment Advisers, a Canadian equity firm, founded its second investment in Ethiopia engaged in the logistics and e-commerce industries. Members of RENEW’s Impact Angel Network have funded a second investment in Roadrunner Technology Solutions LLC, which partners with Universal Courier Services Plc, a.k.a. Deliver Addis, to expand the burgeoning logistics and e-commerce industries in Ethiopia. Deliver Addis is a technology-based online food delivery company launched in October 2015. Roadrunner and Deliver Addis will utilise the Impact Angel’s initial investment to enhance and expand its restaurant delivery services for consumers in Addis Abeba..

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Sovereign Fund Reviews Mid-Year Performance of Line Companies, Calls for Strategic Improvements

Ethiopian Investment Holdings (EIH) launched its mid-year performance review for its portfolio companies, displaying mixed results for the first half of the fiscal year. Ethiopian Sugar Industry Group (ESIG) reached 95.3pc of its sales goal, selling 64,190tn of sugar for 6.1 billion Br—a 132pc year-on-year growth—despite capacity and supply issues. The Ethiopian Petroleum Supply Enterprise (EPSE) met 92pc and 97pc of its purchase and sales targets, respectively, stating it has benefitt...

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Digital Pay Uptake Booms Among SMEs, Visa Study Finds

Over 80pc of surveyed small- and medium-sized Enterprises (SMEs) have started accepting digital payments in the last two years, according to a new Visa report titled, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia'. Citing increased convenience, the report indicates reduced fraud risk and improved efficiency as factors in the uptake. A substantial 66pc of these SMEs believe that investing in digital payment technologies will support future business growth. The...

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ILO Tackles Agricultural Wage Gap

The International Labour Organization (ILO) launched the Setting Adequate Wages in Agriculture (SAW-A) Project last week, with support from the German Federal Ministry for Economic Cooperation & Development (BMZ), seeking to promote fair wage policies, enhance collective bargaining, and support the establishment of minimum wage mechanisms to improve the livelihoods of agricultural workers. The sector employs over 80pc of Ethiopia's workforce, making it the country's largest employment sec...

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