Gebeya Secures $2m Seed Money

Feb 8 , 2020

Gebeya Inc, a local education technology firm that runs an online software marketplace, sealed two million dollars in seed  round money from three investors. Partech, Orange Digital Ventures and Consonance Investment Manager provided the company with the seed money. Partech is a venture capital investment firm with operating offices in San Francisco, Paris, Berlin and Dakar. Orange Digital Ventures Africa is an initiative of Orange Group with a dedicated investment of 50 million euros to support tech entrepreneurship in Africa. Consonance Investment Managers, based in Mauritius, invests in early-stage and growing businesses across sub-Saharan Africa. Gebeya, which was established in 2016 in Ethiopia, has graduated over 600 tech talents. The company secured a half-million-dollar grant from the International Finance Corporation to provide scholarships to 250 female software engineers through the Digital Gender Ethiopia Programme.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...