Equity Firm Injects Cash into Food Delivery Company

May 23 , 2020


[ssba-buttons]

Impact Angel Network, a member of RENEW, has funded the third investment in Roadrunner Technology Solutions, a partner of Deliver Addis, an online food delivery company. Deliver Addis, which has been operational since 2015, has focused on online food delivery but dove into the online marketplace business as of April as a response to the increased demand caused by the Novel Coronavirus (COVID-19) pandemic. It enables consumers to shop for groceries and other essential goods online. Since last month, the company’s daily deliveries have grown by 630pc. Roadrunner and Deliver Addis’s platform is designed by Feleg Tsegaye, the founder of the companies. Deliver Addis now provides food from over 100 restaurants, alongside groceries, flowers and other consumer products. The third investment in Roadrunner and Deliver Addis will increase the companies’ capacities, enable them to reduce prices and increase efficiency to expand its market share and offer new products and services to the market, according to a statement from RENEW.


Radar

Fresh Push to Help Farmers Get Covered & Cash In

The Ministry of Agriculture has established the Rural Finance Service Unit (RFSU) to coordinate and expand agricultural insurance nationwide. Announced on Tuesday at the 2025 UNDP Financial Resilience in Agriculture Community of Practice forum (held at the UN Economic Commission for Africa headquarters), the RFSU is supported by UNDP, JICA, and other partners with funding from the Bill & Melinda Gates Foundation. Agriculture Minister Girma Amente (PhD) and State Minister Sofia Kassa attended...


Radar

Mission 300 Gains Momentum as Ethiopia Charts Path to Energy Equity

The Government has developed a National Energy Compact with the goal of achieving universal electricity access by 2030. The strategy, led by the Ministry of Water & Energy (MoWE), outlines Ethiopia's commitment to reaching 100pc energy access for its population within the next five years. According to State Minister for Energy Development Sector Sultan Woli, the compact was prepared in collaboration with key development partners, including the World Bank Group and the African Development...


Radar

Rammis Bank Commences Mobile Application, Card Banking Services

Rammis Bank has launched its mobile banking application and card services as part of its digital expansion drive. The "Rammis Mobile App" was officially introduced during a launch event held on Saturday at the Grand Eliana Hotel. The app allows users to transfer funds at any time, pay bills, top up mobile airtime, and send money to telebirr wallets for themselves or others. The newly introduced card service enables customers to withdraw cash from any ATM and make payments via Point of Sale (P...