Issue 59: Bill to Allow Fintechs to Issue Loans without Partnering with Banks

A new law in the making is unlocking more territories for fintechs, Safaricom Ethiopia has passed the one million mark in subscribers, and Ethio Telecom’s Telebirr has introduced transaction fees.

Shega Weekly revisits the past week in Ethiopia’s innovative Ecosystem.

Bill to Allow Fintechs to Issue Loans without Partnering with Banks

A draft bill that paves the road for fintechs to start issuing loans without partnering with banks is in the making.

The Reporter stated that the bill that grants a special license to digital credit providers requires the amendment of other laws such as the Banking Business Proclamation to take effect. Read More.

Oromia Bank ATM’s to Allow Mastercard Use via EtSwitch 

A partnership deal between Mastercard, EthSwitch, and Oromia Bank (OB) has brought the services of a global financial giant to Ethiopia. Read More.

Telebirr Introduces Transaction Fees

Telebirr has set transaction fees that users will be charged when they send money using the platform. Read More.

DigiTruck to Equip Ethiopian Students in Remote Areas with 21st-Century Skills

DigiTruck Ethiopia, a project that enables the provision of digital skills training for students in remote areas via a mobile digital classroom equipped with high-end learning electronic gadgets, was launched today. Read More.

Amadou Daffe Named Among Finalists for Africa’s Business Heroes Competition

Africa’s Business Heroes competition, an annual philanthropic program established by the Jack Ma Foundation, has named Amadou Daffe, CEO and co-founder of Gebeya Inc., among this year’s 10 finalists. Read More.

Agritech Startup Lersha Lands Over $100,000 in Grant 

Ethiopian agritech startup Lersha is receiving an equity-free grant of over $100,000 from the GSMA Innovation Fund for Climate Resilience and Adaptation.  Read More.

Authority Envisages 4 Telecom Operators in Ethiopia

According to the Reporter, the Ethiopian Communication Authority (ECA) foresees that at least four unified telecom operators are needed for Ethiopia, given the population growth and diversifying digital service demands. Read More.

New Regulation to Govern Drone Operation, Imports

The Ethiopian Civil Aviation Authority (ECAA) has finalized the drafting of a regulation that will govern the import, operation, and production of drones in the country. Read More.

Ethiopia Restarts Sale of Ethio Telecom Stake

The government of Ethiopia has revived its plans to sell a 40% stake in its state-owned operator, Ethio Telecom. Read More.

Safaricom Crosses 1 million Customers in Ethiopia

Safaricom has crossed the one million mark in subscriber numbers in Ethiopia just a month after the launch of operations in the populous nation, indicating the telco’s warm reception. Read More.