Tech Innovation Competition Comes to Life

May 20 , 2023

A project that aims to energise the business community launched a competition to spotlight young startups with innovative ideas last week. It strives to register over 1,800 people from Addis Abeba, Bahir Dar, Dire Dewa, Jimma, Dessie and Wolayta cities by the end of the year and support through business training, mentorship seed funding, investment networking and boot camp events. Dubbed Solve IT, the nationwide competition aims to build a tech-savvy community and promote technology use as a tool for social development. iCog Ethiopia has partnered with the U.S. Embassy and Dashen Bank to launch the competition, with winners promised to be funded a one million Birr seed money to start their projects. Paulos Birhanu, project planner of iCog Ethiopia, said the competition has reached 3,700 youth in the past couple of years. The ceremony saw the attendance of Ruth Anne Stevens– Klitz, the public affairs council of the U.S. Embassy, Endale Gebresillassie, marketing manager of Dashen Bank and Paulos Birhanu, project planner of iCog Ethiopia.


Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the d...


Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji S...


Digital Fuel Transactions Soar Amid Subsidy Drop

Nationwide digital fuel transactions have exceeded the 155.4 billion Br mark, as the Ethiopian Petroleum & Energy Authority released a half-year report last week. Consistent reductions in fuel subsidies have led to the fuel price stabilisation fund hitting an all-time low of 117.4 billion Br, a decrease of 79.6 billion compared to the previous year. The report highlights the successful monitoring of subsidies across the country's 1,589 fuel stations, benefiting nearly 200,000 transporters...