Category
210 articles
BusinessThe International Finance Corporation (IFC) plans to lend Safaricom Ethiopia an additional $350 million to support its expansion of telecommunications and mobile money services in the country. This follows IFC’s recent disclosure of its intent to augment the $157.4 million debt and $100 million equity investment (for a 7.25 percent stake) it provided to the
BusinessEthiopian Electric Power (#EEP) has reported revenue of $10.1 million over the past 9 months from providing energy to data mining companies operating in the country. This income is part of EEP’s initiatives to diversify its revenue streams for the current fiscal year, contributing to a total revenue surpassing 756 million ETB. According to Menilik
BusinessThe Board of Directors of the African Development Fund, the concessional financing arm of the African Development Bank Group (www.AfDB.org), approved a grant of $42.86 million to Ethiopia on May 22, 2024, to support the Agri-MSMEs Development for Jobs Program. This initiative aims to enhance the growth and productivity of youth and women-led micro, small,
BusinessYesterday, the Ethiopian Capital Market Authority (ECMA) convened a thought-provoking panel discussion on “Aligning Startups With Funding Opportunities.” The session delved into crucial strategies and initiatives aimed at empowering startups in Ethiopia, with a focus on fostering growth, enhancing quality, and increasing early-stage funding. Here are the key takeaways: The discussion emphasized that any policy
BusinessIn a significant policy overhaul, the Ethiopian government has implemented reforms that will result in extensive changes to longstanding investment regulations, permitting foreign involvement in key economic sectors such as export, import, wholesale, and retail trade. This shift marks the end of an era where these sectors were exclusively reserved for domestic entities. A new
BusinessQuick Takeaways: According to a study by Harvard Business School professor Shikhar Ghosh, approximately 75% of venture-backed startups fail. Yet some entrepreneurs manage to defy the odds and build thriving companies out of groundbreaking ideas. So what’s their secret sauce? In many cases, embracing the lean startup model is the key ingredient. Even startups in
