New Tech Firm Gets Off the Ground

Jan 16 , 2021

eTech S.C., a newly formed tech firm with 200 million Br in capital, was launched at the end of last week. The company has already secured four licenses to get involved in cybersecurity, software development, infrastructure, e-commerce, fintech and telecom services. During its establishment, it has offered two million shares for sale with a par value of 100 Br. Potential shareholders were required to buy a minimum of 350 shares to participate in the new venture. So far, it managed to raise 160 million Br in capital. The idea for the firm was first brought up sometime in mid-2020, and the company was formed through the efforts of more than 200 founding members, many of whom have extensive tech backgrounds working for firms such as Amazon and Microsoft. In the past year, the government has passed laws governing e-transactions, including an agent banking directive and a payment license directive, as part of the effort to digitise operations and the need for an operating digital platform due to the Novel Coronavirus (COVID-19).


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...