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Ethiopia Tag

Mastercard Foundation Launches $24.8 million Facility To Support Startups And SMEs in Ethiopia

tartups, small and medium scale businesses in Ethiopia have a new support from Mastercard Foundation. The Jobs Creation Commission of Ethiopia, the Mastercard Foundation and First Consult have announced the creation of the Mastercard Foundation MSE’s Resilience Facility. This is an emergency program that will support micro and small-sized enterprises (MSEs) and start-ups in Ethiopia during the economic downturn caused by the COVID-19 pandemic. Here Is What You Need To Know The program, with an initial commitment of approximately USD 24.8 million from the Mastercard Foundation COVID-19 Recovery and Resilience Program , will ensure MSEs remain solvent, retain their employees, and are able to create increasingly innovative work opportunities in the wake of...

Early-Stage Startup Owner? You can Win $10,000 from Aptive Capital’s Fund. Here is How to Apply

Aptive Capital, an investment organisation that provides capital, coaching, and community for social impact-driven startups and entrepreneurs, is calling on early-stage businesses in Africa; Nigeria, Ghana, Kenya, South Africa, Egypt, and Ethiopia. Launched in 2020, arising from the funding gap as a result of the pandemic, Aptive Capital is a US-based $1m portfolio fund committed to supporting entrepreneurs and innovators dedicated to social impact within their community. The fund is given to support, coach, and increase the social impact of early-stage entrepreneurs and innovators who are changing the norm and creating social impact within their society. Aptive looks to invest in, and support the acceleration of 100 African startups...

Clean Technology Fund Injects $10m Into Ethiopia’s Geothermal Capacity

The African Development Bank has welcomed a decision by the Trust Fund Committee of the Clean Technology Fund (CTF), to extend a $10m concessional senior loan for the development of the 50 MW Tulu Moyo Geothermal Power Plant project in Ethiopia. The CTF approved the loan on 20 April 2020 for the project, which is seen as a critical step to the East African country’s drive to harness sustainable and resilient energy resources to support its economy and livelihoods. With this investment, CTF becomes the first progressive geothermal Independent Power Producer (IPP) in Ethiopia. Related Article: MPower raises $430k to expand its off-grid energy solutions in Africa The...

Ethiopian reforms attract investor interest

Since Ethiopian Prime Minister Abiy Ahmed took power in April 2018, his government has sent an unambiguous message: It needs more private sector investment to drive growth and create jobs. The government’s growth strategy calls for structural reforms designed to strengthen the private sector, boost competition, and increase investment – an approach that is accelerating the end of Ethiopia’s long reliance on state-led economic development. The government plans to privatise the state-owned telecommunications company, Ethio Telecom, offering up to 49% ownership to outside investors. The government also plans to offer two new licences that will allow new players, including foreign investors, to enter the market. Read...

Japan’s Project NINJA Aims To Support 50 Pre-Seed/Seed-Stage Startups In Ethiopia & Others

The Japan International Cooperation Agency (JICA), the agency that coordinates official development assistance for the Japanese government in developing countries, has announced the launch of a project aimed at strengthening startup ecosystems in emerging markets. NINJA, as the project is called, is short for Next Innovation with Japan. It is a startup support project that will be developed and implemented in about 5 pilot countries, including Ethiopia. Project NINJA will be focused on propping up innovative startups through business competition and incubation/acceleration programs in the targeted countries, as well as business matching support and policy advocation. Read more from source article: https://weetracker.com/2020/03/03/japan-launches-project-ninja-for-startups/ Click here to subscribe for...

SAP empowers five Ethiopian social enterprises

Multinational software company, SAP announced five social enterprises benefitted from its 2019 Social Sabbatical held in Ethiopia. According to SAP, the Social Sabbatical programme takes highly-skilled SAP employees from around the world and connects them with resource-constrained social enterprises and non-profit organisations. Beyond Ethiopia, SAP hopes to bring the Social Sabbatical for Global Engagement to more countries across Africa by April of 2020 including Zimbabwe, Tunisia and Mauritius. Read more from source article: https://www.itnewsafrica.com/2019/08/sap-empowers-five-ethiopian-social-enterprises/ ...

Ethiopian-based edtech startup, Gebeya, closes $2 million seed funding to scale up services

Gebeya, an edtech and online software outsourcing marketplace company, announced today that it closed a $2 million seed round investment. This round was co-led by Partech Africa and Orange Digital Ventures, with Consonance Investment Managers also taking part. Read more from source article: https://techpoint.africa/2020/02/06/gebeya-raises-2m/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

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